King Committee leadership change
Monday, 06 August 2018
Professor Mervyn King will, on 1 October 2018, hand over the role of Chairman of the King Committee to Professor Suresh Kana.
Prof King has been the Chairman of the King Committee since its inception in 1992. He will remain a member of the Committee in his new role as Chairman Emeritus. The move is in line with Professor King’s role at the International Integrated Reporting Council (IIRC) also changing from Chairman to Chairman Emeritus on 1 October 2018. Professor King will continue his advisory and advocacy roles to both these committees.
Roy Andersen, Chairman of Sasfin Limited and a member of the King Committee since its inception said: “It has been a privilege to have worked with Mervyn King from the first meeting of the committee that produced King I. Since then I have been in awe of how he has changed the corporate governance landscape not only in South Africa, but also internationally. His intellect and insight are exceptional, and he has made an extraordinary contribution. I have also worked with Suresh Kana and have no doubt that he is a worthy successor.”
Professor Kana is currently the Chairman of Imperial Holdings Group, the Chairman of Murray and Roberts, and lead independent director of JSE Limited. He also chairs the Audit Committee of the United Nations World Food Programme based in Rome. Professor Kana joined the King Committee in 2000 and has been involved in the development of the King II, King III and King IV Reports.
“I am truly honoured to chair the King Committee and – together with my colleagues on the Committee – I’ll continue to build on the internationally acclaimed work performed under the leadership of Mervyn King over the past 24 years,” said Prof Kana.
Parmi Natesan, Executive: Centre for Corporate Governance at the Institute of Directors of South Africa, said that the IoDSA was delighted that Prof King would remain as a member of the committee in his capacity as Chairman Emeritus and continue to play an advisory and advocacy role.
She pointed out that under King’s leadership the King Report was regarded around the world as the premier corporate governance model. The Report is often used as a template for the drafting of corporate governance codes in other countries around the world.
Ms Natesan also welcomed the leadership of Suresh Kana, with whom the IoDSA have a long-standing relationship in various capacities, including his participation in the IoDSA’s Chartered Director SA Governing Body. “Suresh has the leadership capabilities, gravitas and experience to lead this important Committee into the future” said Natesan.