News & Press: IoDSA in the Press

Proposition to shield executives from re-election draws flak

Thursday, 21 February 2013  
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A Company that does not provide for the re-election of its executive directors in its memorandum of incorporation (MoI), as recommended by the Institute of Directors (IoD) and the JSE, faces the prospect of shareholders voting against the adoption of the MoI, particularly where the company has a large international shareholder.Listed companies must get shareholder approval for their MoIs, created in terms of the new Companies Act, by May.