Ian Kirk, the CEO of Sanlam, says he is entirely comfortable reporting to his predecessor, Johan van Zyl, who will take over as Sanlam Group chairman just two years after stepping down as CEO. "I’m supportive. I think it’s a good team," Kirk said on Monday, following last month’s announcement that Van Zyl would be group chairman come June. Van Zyl was CEO of Sanlam from 2003 until his retirement in June 2015. "It’s about Sanlam. It’s not about Ian, it’s not about Johan," Kirk said. The board had asked him if he had any reservations about Van Zyl’s appointment, Kirk said. King IV, the latest iteration of the corporate governance codes so named, recommends that a CEO should not become chairperson of a governing body until three complete years have passed from the end of the CEO’s tenure. King IV principles were recommendations rather than rules, said Parmi Natesan, executive for the centre of corporate governance at the Institute of Directors in Southern Africa. "The overarching consi...
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