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CORPORATE GOVERNANCE
Board of Directors
Sound corporate governance ensures that we have the mechanisms in place to effectively manage risk for our organization while striving to maximize long-term shareholder value. Our governance practice relies on the effective counsel and oversight of a committed Board of Directors and a rigorous system of internal controls and policies. Members of the Board of Directors for Macam Group of Companies are drawn from the most senior ranks of both parent organizations, reflecting the depth of experience that guides and supports the company.
Role of the Board of Directors
A description of the activities of the Board can be found in our Annual Report & Accounts 2009.
Board Reserved Matters
- All matters not otherwise described below which exceed the authority delegated to the Executive.
- Approval of the Company's Annual Report and Accounts and Interim Financial Statements.
- Approval of interim dividends and recommendation of final dividends.
- Approval of Treasury policies and related risk management strategy and framework.
- Approval of any significant change in accounting policies or practices (such as the basis on which accounts are prepared).
- Approval of the Group's Strategic Plan and Operating Plan.
- Approval of any Notice of General Meeting and any other circulars to be sent to shareholders.
- Changes in the capital structure of the Company and, in particular, the issue or allotment of shares in the Company*.
- Appointment and removal of Directors and the Company Secretary.
- Establishment of Board committees, their membership, constitution, terms of reference and any authority delegated to them.
- Recommendations for the appointment and removal of Auditors and, at the recommendation of the Group Finance Director and following the approval in principle of the Audit Committee, approval of the remuneration of Auditors.
- Approval of matters not in the ordinary course of business.
- Approval of moves into non-core areas of business or expanding an existing business into new countries.Approval of new share schemes or any amendments that would confer additional benefits to participants in existing share schemes.
- Major changes to the Group's pension scheme arrangements.
- Political donations.
- Amendment of the Delegation of Authority and Decision-making document including the schedule of Board Reserved Matters.
- Review of the Group's corporate governance arrangements.
- Review of the Group's internal control arrangements.
- Review of the Group's corporate responsibility arrangements, including health & safety and environment matters.
- Review of the Group's Directors' and Officers' insurance cover.
- Approval of tax policy and related risk management strategy and framework.
Internal Controls
Overview: Macam Group of Companies has strict internal controls and processes in place to ensure that client assets and information are protected. Regular independent audits of these controls and processes are performed in accordance with established and recognized standards, including the Statement on Auditing Standards (SAS) No. 70, Type II of the American Institute of Certified Public Accountants and Section 5970 of the Canadian Institute of Chartered Accountants (CICA) Handbook.
These audits test and report on the quality of the control environment including accuracy, completeness, authorization, timeliness, and segregation of duties.
Code of conduct
1. Privacy Statement
Your privacy is important to Macam Group of Companies. This privacy statement provides information about the personal information that Macam Group of Companies collects, and the ways in which Macam Group of Companies uses that personal information.
This privacy statement
This privacy statement is based on a legal form made available by contract and agreement. It is available from: www.macamgroup.com
Personal information collection
Macam Group of Companies may collect and use the following kinds of personal information:
- information about your use of this website;
- information that you provide using for the purpose of registering with the website;
- information about transactions carried out over this website;
- information that you provide for the purpose of subscribing to the website services; and
- any other information that you send to Macam Group of Companies.
Using personal information
Macam Group of Companies may use your personal information to:
- administer this website;
- personalize the website for you;
- enable your access to and use of the website services;
- publish information about you on the website
- send to you products that you purchase;
- supply to you services that you purchase;
- send you statements and invoices;
- collect payments from you; and
- send you marketing communications.
Where Macam Group of Companies discloses your personal information to its agents or sub-contractors for these purposes, the agent or sub-contractor in question will be obligated to use that personal information in accordance with the terms of this privacy statement.
In addition to the disclosures reasonably necessary for the purposes identified elsewhere above, Macam Group of Companies may disclose your personal information to the extent that it is required to do so by law, in connection with any legal proceedings or prospective legal proceedings, and in order to establish, exercise or defend its legal rights.
Securing your data
Macam Group of Companies will take reasonable technical and organizational precautions to prevent the loss, misuse or alteration of your personal information.
Macam Group of Companies will store all the personal information you provide on its secure servers.
[Information relating to electronic transactions entered into via this website will be protected by encryption technology.]
Cross-border data transfers
Information that Macam Group of Companies collects may be stored and processed in and transferred between any of the countries in which Macam Group of Companies operates to enable the use of the information in accordance with this privacy policy.
[In addition, personal information that you submit for publication on the website will be published on the internet and may be available around the world.]
You agree to such cross-border transfers of personal information.
Updating this statement
Macam Group of Companies may update this privacy policy by posting a new version on this website.
You should check this page occasionally to ensure you are familiar with any changes.
Other websites
This website contains links to other websites.
Macam Group of Companies is not responsible for the privacy policies or practices of any third party.
Contact Macam Group of Companies
If you have any questions about this privacy policy or treatment of your personal information, please write to:
- by email to
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or
- by post to our head office.
2. Customer Relations
We are committed to ensuring all our customers receive the best possible service. However, we recognize that on occasions, some of our customers experience problems.
We recognize that complaints are a valuable form of feedback on our service delivery. We therefore use this direct feedback to identify the root causes of complaints and ensure that improvements are made to our processes for the long term.
Through regular dialogue with our customers we understand what the important factors are when dealing with organizations.
These are:
- we will listen to, understand and care about why you are dissatisfied
- we will Endeavour to resolve your problem at the first point of contact that you make with us
- we will take ownership of your complaint to ensure resolution
- we will offer fair solutions quickly
- It is our aim to continually improve our service delivery to develop long-term and loyal relationships with all customers in all our businesses.
3. Human rights
Macam Group of Companies believes that our businesses should both contribute to economic well being as well as to be a positive influence on people's lives wherever we operate.
As such, we support the principles described in the UN Global Compact. These principles are derived from the Universal Declaration of Human Rights, the Declaration of the International Labour Organization on fundamental principles and rights. Our policy describes our approach to the principles as they relate to labour standards and human rights.
Our Statement of Business Principles sets out our standards and expectations in terms of our people. In addition, we are committed to conduct our business in ways that ensure that we are not complicit in human rights abuse within the scope of our influence.
We have developed a human rights policy which applies to all Macam business operations. We are encouraging our business partners and suppliers to respect and follow our approach.
An annual report on progress of this policy will be prepared by the Macam group director of human resources and considered within our wider framework for managing corporate responsibility within the company.
If we were to find ourselves inadvertently implicated in abuses of human rights, we would take immediate steps to rectify such a situation.
4. Customer diversity
We operate in an increasingly diverse community, not just of work colleagues, but of customers and suppliers. Macam rightly prides itself on the highest standards of customer service across the different brands. At the heart of our service ethic is a commitment to treat all our customers both fairly and equally, regardless of their race, gender, age, religion, disability, marital status, sexuality, background or beliefs.
However, treating people equally isn't about treating people all the same. It's about understanding that different people have different needs and responding to those needs. Recognizing and valuing customer diversity will help us to deliver truly world class services that are accessible to everyone, which, in turn, will ensure that we retain their custom in the future. It's about fairness and equality, but it also makes good business sense.
The Disability Discrimination Act sets out a number of requirements for companies, which we support and are working to the spirit of the legislation. We are currently building on our existing strengths in looking to meet the needs of all of our customers, the Password scheme, the provision of information in alternative, accessible formats, and the provision of a language translation service.
We are constantly reviewing the services that we deliver and invite comments and suggestions from our customers to help us in doing this. If you have any items that you feel would benefit our organization please address them with your local supervisor.
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