Bidvest’s entrepreneurial flair has been a driving force that has fostered growth in a variety of sectors, creating the Group as we know it today. Clear vision about the way forward has become essential.

An appropriate structure that can capture the talent and unleash the energy needed for continued growth without becoming unwieldy or unfocused is the core rationale behind the restructure of Bidvest into Bidvest South Africa (made up of 10 divisions) and Bidvest Foodservice (locally and globally), Bidvest Namibia and Bidvest Corporate.

Bidvest prizes simplicity. Better focus makes it easier to manage your business which is the key focus in understanding Governance. This new structure has also facilitated addressing of previously identified, seemingly insurmountable risks such as succession planning.

Within Bidvest South Africa there are 10 new CEs each running substantial businesses, supported by their respective financial directors. Within Bidvest Foodservice globally there are CEs and FDs appointed to run and manage geographically grouped businesses, so too within Bidvest Namibia. Each division within this overall structure has as divisionally central assurance team being an internal audit and risk management team. Each division is managed through a corporate governance structure consisting of quarterly committees being independently chaired audit committee and a risk and sustainability committee. Each of these divisional committees collates and reports back into the Group structure to ensure adequate focus is brought to each risk and business that exists within the Bidvest Group structure.

QUICK LINK: Bidvest at a glance

Ethical philosophy

At Bidvest, corporate governance is a way of life rather than a set of rules. Stakeholders can only derive full, sustained value from a business founded on honesty, integrity, accountability and transparency. Bidvest is committed to applying good corporate governance principles in a manner that complements its entrepreneurial flair.

Code of conduct

A focus area for the board, its committees, directors, officers and managers of the Group is to ensure our code of conduct is honoured. The code demands highest standards of integrity, ethics and behaviour in all conduct and dealings; non-discriminatory employment and promotion practices; supporting employees through training and development to reach their full potential; and proactive engagement on environmental, social and sustainability matters.

Our value system

• Accountability to employees and shareholders
• Business growth
• Decentralisation
• Entrepreneurship and innovation
• Non-discrimination and equal opportunity
• Fairness and honesty in stakeholder interaction
• Respect for human dignity, human rights, social justice and environment
• Service excellence, creating an exceptional place in which to work and do business
• Transparency and open lines of communications

GRC integration

On the wave of change that was brought about in the restructuring of the Group was a renewed commitment to the areas of governance, risk and compliance within the Group. The restructure provided resources for Bidvest Group to provide guidance and set parameters within the divisions.

A governance, risk and compliance framework has been adopted by the Group, depicted in the image. This framework shows the integration of four basic pillars, being governance, assurance, risk management and compliance, driven by Group and divisional strategy, in compliance with legislated requirements, reported to the necessary structures in order to achieve continued growth and sustainability of Bidvest.