The Massmart Social and Ethics Committee was constituted in June 2011 and comprises the Massmart CEO and two non-Executive Directors. The Committee is chaired by a non-Executive Director. An independent external advisor, the Group Chief Compliance Officer, the Group Chief Ethics Officer, the Group Corporate Affairs Executive, the Group General Counsel and the Group Human Capital Executive attended meetings by invitation.
The Committee is governed by a charter and monitors Group performance in terms of defined Social and Ethics performance indicators that have been formulated with reference to Regulation 43(5) of the 2008 Companies Act.
These indicators, which include but are not limited to, OECD anti-corruption guidelines, United Nations Global Compact principles, the Employment Equity Act, Johannesburg Stock Exchange Socially Responsible Index criteria and Broad-based Black Economic Empowerment elements, are reviewed by the Committee, on a rotational or core agenda basis.
The Committee met twice during the 52 weeks ended 28 December 2014, at which meetings performance in the following areas were reviewed, in response to the requirements of the Companies Act:

  • JSE Socially Responsible Investment Index;
  • Anti-corruption Compliance;
  • Consumer and Product Safety;
  • Human Capital Management;
  • Regulatory and Compliance Matters;
  • Stakeholder Relations;
  • Socio-Economic Development; and
  • Environmental Impact.

These meetings were supplemented by bi-monthly management briefings by the Group Corporate Affairs Executive to the Committee Chairperson regarding on-going operational items of relevance including the Group’s response to the Ebola epidemic in West Africa, product re-calls, feedback from stakeholder meetings and transformation progress.
The Committee confirms that no material issues were identified during either the formal review or the briefing process.

Phumzile
Phumzile Langeni
Chairperson of the Social and Ethics Committee
2 April 2015