SOUTH AFRICA - Sanlam today announced plans to establish a new institutional business committee as part of a major corporate governance review.
The insurer said its Sanlam Investment Management, Sanlam Capital Markets and Sanlam Employee Benefits Divisions would henceforth comprise the Institutional Business Cluster, which will be appropriately authorised to direct and monitor all strategic implementation and operational performance aspects of their businesses.
Following the re-election and election of members to the board of Sanlam Limited at its AGM on 7 June 2006, it was announced the the institutional Cluster would be chaired by Johan van Zyl.
The insurer’s board announced a raft of changes as part of a review of the Group's major corporate governance structures. The board said the review was aimed at streamlining the decision-making processes so as to increase the efficiency of the Group at both board and operational levels.
The said all decisions announced would be implemented following the next shareholder and board meetings of subsidiary companies.
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