Feb 18

Steinhoff’s shadow falls on King codes

Theo Botha has criticised the King codes of governance around the tenure and independence of directors.

Shareholder activist Theo Botha says the collapse of Steinhoff raises questions about the King codes of corporate governance, which were meant to prevent governance failures of the kind seen at Steinhoff and African Bank.

He says they have not brought the necessary levels of transparency and accountability because boards pay lip service to the codes without complying with them.

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