Integrated report
Profile
Scope and boundary
Organisational overview and activities
- Business model
- Assurance
- History of the group
- Group at a glance
- Location of markets
- Location of operations
- Group structure of operating companies
- Governance structure
Risks and opportunities
- Operating context
Strategic objectives
- Strategy
- Key performance indicators
Operational review and commentary
Future performance objectives
Remuneration
Financial highlights
Organisational overview and activities
Governance structure
The governance structure for the group is set out below:
Assore’s subsidiary operations (refer “Group structure of operating companies”) have their own boards of directors, who are appointed in terms of their respective memoranda of incorporation, and shareholder agreements where Assore’s interest is less than 100%.
The board of directors of Assmang has a unitary structure, with six directors appointed by each of the parties to the joint venture. Assore has the right to appoint the chairman of Assmang (who is Assore’s chairman), while ARM is entitled to appoint its deputy chairman. Assmang is regulated by a joint-venture agreement covering all aspects of its operation, and is managed by its Operations Committee (OpsCom), which is chaired by ARM’s representative (the Presiding Officer). The OpsCom has eight members, with four representatives each from Assore and ARM. In addition, Assmang has an Audit Committee, chaired by Assore’s CEO, with two additional representatives from ARM.
Assmang has established a Social and Ethics Committee (SEC), that reports to its board. Assore is entitled to appoint one person to the SEC, while ARM is entitled to appoint the chairman and one other member.
Assore Executive committee
Name |
Designation |
Academic qualifications and professional registration |
Years’ service |
Desmond Sacco |
Chairman |
BSc (Hons) (Geology) |
45 |
CJ Cory |
Chief Executive Officer |
BA, CA(SA), MBA |
23 |
AD Stalker |
Group Marketing Director |
BSc (Hons) (Geology), GDE |
18 |
BH van Aswegen |
Group Technical and Operations Director |
BEng (Metallurgy), BCom, MEng |
9 |
RP Burnand |
Group General Manager Wonderstone |
BTech (MatSci), PhD (Eng Science) |
12 |
C Claassen |
Senior Sales Manager: Chrome |
BCom (Marketing and Communication) |
10 |
RA Davies |
Group Accountant |
BCompt (Hons), CA(SA) |
4 |
C Els |
Senior Sales Manager: Iron Ore |
BCom, BEng (Industrial) |
6 |
HH Gouws |
Senior Project Manager |
BEng (Mechanical), PrEng |
3 |
FH Kalp |
Group General Manager: Chrome |
BSc (Hons) (Geology) |
17 |
CAAP Magalhaes |
Manager Technical Services |
GDE (Mining Engineering) |
6 |
LS Matsimela |
Senior Project Manager |
BSc (MechEng), MSc (Project Mgt) PrEng |
8 |
A McAdam |
Group Manager: New Business |
BSc (Hons) (Metallurgy), MBA |
13 |
FT Olivier |
Group Mining Engineer |
BEng (Mining), MCom, GDE |
12 |
PE Sacco |
Deputy Managing Director: Ore & Metal |
BA (Indus Psych), MA (Marketing) |
9 |
HL Smith |
Group Consulting Metallurgist |
BEng (Metallurgy) |
1 |
JC Venter |
Senior Sales Manager: Manganese |
BEng (Industrial) |
12 |