The Massmart Executive Committee is the most senior executive decision-making body in the Group. In 2014 the Committee was chaired by the CEO (Guy Hayward) and comprised the Group FD (Ilan Zwarenstein), the Group Human Capital Executive (Pearl Maphoshe), the Group Corporate Affairs Executive (Brian Leroni), the five divisional Chief Executives (Neville Dunn, Doug Jones, Kevin Vyvyan-Day, Llewellyn Walters and Robin Wright), General Counsel (Mike Spivey) and the Group Commercial Executive (Llewellyn Steeneveldt).
In January 2015, Norman Gray was appointed to the Executive Committee as Group Ethics and Compliance Officer. On 12 March 2015, Ilan Zwarenstein resigned as Group FD at which time Johannes van Lierop was appointed as Chief Financial Officer (CFO) of Massmart.
The Committee deliberates, takes decisions or makes recommendations on all matters of strategy and operations. Within the parameters described by the Board-approved Governance Authorities, the decisions or recommendations are sometimes referred to the Board or its relevant Committee for final approval, while in other cases the power to take decisions is delegated to Divisional Boards or Executive Committees.
The Executive Committee has specific responsibilities, inter alia, for:
- monitoring and measuring the structures, trends and performance of markets and competition;
- strategic planning;
- defining, configuring, financing and structuring the Group’s portfolio of assets;
- shaping and approving the competitive strategies, growth and operating plans and budgets of the Divisions and functional departments;
- measuring, monitoring and taking proactive corrective action on Divisional performance;
- ensuring adequate risk management, internal controls, governance, compliance and ethical behaviour throughout the Group; and
- shaping and approving succession plans and senior executive management appointments.