CEO Today Africa Awards

SOUTH AFRICA 73 www.ceotodaymagazine.com CEO Today Africa Awards 2019 JJ (JANNIE) DURAND CEO Remgro Limited FIRM PROFILE REMGRO IS A DIVERSIFIED INVESTMENT HOLDING COMPANY Originally established in the 1940s by the late Dr Anton Rupert, Remgro’s investment portfolio has evolved substantially and currently includes more than 30 investee companies. The Company is listed on the Johannesburg Securities Exchange (JSE), operated by the JSE Limited in SouthAfrica under the “Industrial –Diversified Industrial” sector (as at 19 September 2019), with the share code “REM”. Our interests consist mainly of investments in the banking, healthcare, consumer products, insurance, industrial, infrastructure and media and sport industries. Remgro has a few operating subsidiaries of which the material companies are RCL Foods (listed), Distell (listed), Siqalo Foods (unlisted) and Wispeco (unlisted). Due to its philosophy of decentralised management, these companies have autonomous boards of directors and management structures and Remgro only exerts its influence through non-executive representation on the boards of these companies. Remgro’s other investments comprise both listed and unlisted companies that are not controlled by Remgro and which are mostly associates and joint ventures due to the significant influence or joint control exercised by Remgro through its board representation in those investee companies. Where Remgro does not have board representation such investments are treated as portfolio investments. Remgro manages its investments on a decentralised basis and its involvement is mainly focused on the provision of support rather than on being involved in the day-to- day management of business units of investees. The Remgro Limited Board considers it in the best interest of all the parties concerned to respect the decentralised business model and the fact that these businesses are conducted in separate legal entities. The support provided to the investee companies can either be in the form of strategic, financial and managerial support, or the creating of an environment for corporate transactions. Shareholder agreements are in place for Remgro’s associates and joint ventures where there are also other major shareholders involved. These agreements protect its rights as shareholder and manage risks. In terms of these agreements Remgro has decision-making involvement for a defined list of material matters of the businesses of these entities, such as the appointment or removal of directors, capital structure, business strategy, large capital expenditure and mergers, acquisitions and disposals. As a responsible shareholder of the investee companies, Remgro also exercises its shareholder rights to ensure, as far as possible, that the entities concerned adhere to its requirements in respect of matters such as governance, internal controls, financial management, risk management, legal compliance, safety, health and environmental management, internal audit, ethics management, information management, stakeholder relationships, succession planning and sustainability. ABOUT JJ (JANNIE) DURAND Chief Executive Officer of Remgro Limited and currently a director of a number of companies including Discovery Holdings Limited, Distell Group Limited, Grindrod Limited, Mediclinic International Limited, RMI Holdings Limited andUnilever SA Holdings Proprietary Limited. Jannie is a Chartered Accountant and was previously the Chief Investment Officer of Remgro Limited. He was also previously the Financial Director and Chief Executive Officer of VenFin Limited. Prior to his appointment as Chairman, Jannie had served as a nonexecutive director of RCL FOODS since March 2010. www.remgro.com