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Johannesburg - The third version of the King Code of corporate governance was released this week.
Some of the changes include a recommendation that directors who leave companies before the end of their contracts have to forfeit share options. Additionally, directors who own more than 5% of a company's shares can no longer be described as independent.
The King III code provides guidelines for the directors running companies and also serves to protect shareholders' interests.
Shareholder activist Theo Botha said that shareholders only have one window of opportunity, at the year-end, to judge whether directors are practising good corporate governance. Botha spoke to Marc Ashton on this week's Off the Record podcast.
To listen to the podcast, visit Fin24.com Podcasts.
- Fin24.com