Mervyn King (judge)

Last updated

Mervyn Mau E. King
Born
Mervyn Masiapa Mau Eldred King

(1937-07-22) 22 July 1937 (age 87)
Johannesburg
NationalitySouth African
Occupation(s)Attorney, arbitrator, mediator, commission chair
Known for King Report on Corporate Governance

Mervyn Eldred King (born 22 July 1937, Johannesburg) [1] is a South African corporate attorney, arbitrator, mediator, corporate director, commission chair, author and speaker. A former judge of the Supreme Court of South Africa, he is currently chairman of the IIRC, chairman emeritus of the Global Reporting Initiative and director of the Association of Business Administrators of Southern Africa. He is best known for chairing the King Committee on Corporate Governance, which issued three comprehensive reports in 1994, 2002 and 2009 endorsing an integrated and inclusive approach to corporate governance in South Africa. [2]

Contents

Biography

King was born on 22 July 1937 to Aubrey and Mona King. He attended the University of the Witwatersrand, where he earned his Bachelor of Arts, Bachelor of Law, and a higher diploma in tax law. [1]

From 1961 to 1964 he was a practising attorney. From 1965 to 1979 he was an advocate to the Supreme Court of South Africa, specialising in commercial law; he was appointed senior counsel in 1975. He became a judge of the Supreme Court of South Africa in 1977. [1] He resigned that post in 1980 – reportedly after an altercation with Prime Minister P. W. Botha [3]  – and entered the commercial arena.

He became executive chairman of Frame Group Holdings, a textile giant, and executive chairman of First National Bank's corporate and investment banking group. [3] In later years, he chaired and was a director of Capital Alliance Ltd and Metro Cash & Carry Ltd. [2]

From 1981 to 1989 he was the first chairman of Operation Hunger, a South African charity which aimed to feed children in rural areas; he is now honorary life president of that organisation. [2]

Arbitrator and mediator

King is a founding member of the Arbitration Foundation of Southern Africa. He has acted as a company inspector and commissioner of inquiry into the affairs of companies, and has chaired many meetings to effect compromises for company creditors and on behalf of shareholder interests. [4] In 1994 he chaired a commission of inquiry into political divisions in athletics, drafting recommendations for future conduct of the sport in South Africa; this was followed up by his second commission investing the sport of tennis. [2]

King Report

In July 1993 the Institute of Directors in South Africa asked King to chair the first official committee on corporate governance. The King Committee on Corporate Governance issued its first report (King I), a comprehensive code of corporate practices and conduct, in 1994. King viewed the committee as an opportunity to educate the recently democratized South African public on the principles of working in a free economy. [3] King I was the first report of its kind in South Africa. [5] In 2002, when the Earth Summit was held in Johannesburg, King pushed for a revision of the report (King II), including new sections on sustainability, [3] the role of the corporate board, [6] and risk management. [7] The report was further revised in 2009 (King III). [8] Compliance with the King Reports is a requirement for companies listed on the Johannesburg Stock Exchange. [9] [10] The King Report on Corporate Governance has been cited as "the most effective summary of the best international practices in corporate governance". [11]

International arena

From 2000 to 2008, King was the South African representative on the International Chamber of Commerce's International Court of Arbitration in Paris. He was the first president of the Commonwealth Association of Corporate Governance and a former Governor of the International Corporate Governance Network. [2]

He is currently a member of the Private Sector Advisory Group to the World Bank on Corporate Governance and a member of the international advisory boards of Stern Stewart (US), Tomorrow's Company (United Kingdom), and the Central European Corporate Governance Association. He chairs the Asian Centre of Corporate Governance, the United Nations Committee on Governance and Oversight, and the Global Reporting Initiative. He is the Chairman of the International Integrated Reporting Council. [2]

In South Africa, King holds the following positions: [1] [2]

Speaker

King has addressed conferences and lectured on corporate issues in 38 countries. He is a regular speaker on radio and television talk shows and had his own television series, "King on Governance". [4]

Honors and awards

Family

King is married to Elizabeth Mae Miller; they have two sons. [1]

Bibliography

Related Research Articles

Niall FitzGerald is an Irish businessman.

<span class="mw-page-title-main">Nicky Oppenheimer</span> South African billionaire businessman (born 1945)

Nicholas F. Oppenheimer is a South African billionaire businessman. He was formerly the chairman of De Beers diamond mining company and of its subsidiary, the Diamond Trading Company, and former deputy chairman of Anglo American. He is the third richest man in Africa.

<span class="mw-page-title-main">Sunil Mittal</span> Indian industrialist and philanthropist (born 1957)

Sunil Bharti Mittal is an Indian industrialist and philanthropist. He is the founder and chairman of Bharti Enterprises, which has diversified interests in telecom, insurance, real estate, education, malls, hospitality, Agri and food besides other ventures.

<span class="mw-page-title-main">Mohammed Valli Moosa</span> Former South African politician (born 1957)

Valli Moosa is Deputy Chairperson of the Presidential Climate Commission and Chairperson of the Constitution Hill trust. He was born in Johannesburg and is a veteran of the South African freedom struggle. Valli worked closely with Nelson Mandela during the settlement talks, served as negotiator for the ANC, and participated in drafting the South African Constitution. He served in President Mandela's cabinet as Minister of Constitutional Development, and in President Mbeki's government as Environment Minister. Valli joined the corporate sector in 2004 and currently serves on the board of Sappi Ltd. He has previously served on the boards of Anglo Platinum, Eskom and Sanlam. Valli served as a facilitator in the global climate change negotiations for a number of years. He previously served as President of the International Union for the Conservation of Nature (IUCN), as Chairman of the UN Commission on Sustainable Development and as Chairman of WWF(SA).

<span class="mw-page-title-main">Paul Judge</span> British businessman and philanthropist (1949–2017)

Sir Paul Rupert Judge was an English business and political figure. He served as Chairman of the Royal Society of Arts, President of the Chartered Management Institute, and Deputy Chairman of the American Management Association. He also served as the Director General of the Conservative Party and a Ministerial Advisor to the Cabinet Office. He was educated at Trinity College, Cambridge.

Sir George Adrian Hayhurst Cadbury, was an English businessman who served as the chairman of Cadbury and Cadbury Schweppes for 24 years. He was also a British Olympic rower. Cadbury was a pioneer in raising the awareness and stimulating the debate on corporate governance and, via the Cadbury committee set up by the London Stock Exchange, produced the Cadbury Report, a code of best practice which served as a basis for reform of corporate governance around the world.

Sir Maurice Sydney Lipworth KC (Hon), is a South African lawyer, businessman, public servant and philanthropist.

Sir Donald Gordon was a South African-British businessman and philanthropist. He founded Liberty Life Association of Africa in 1957 and Liberty International.

The King Report on Corporate Governance is a booklet of guidelines for the governance structures and operation of companies in South Africa. It is issued by the King Committee on Corporate Governance. Three reports were issued in 1994, 2002, and 2009 and a fourth revision in 2016. The Institute of Directors in Southern Africa (IoDSA) owns the copyright of the King Report on Corporate Governance and the King Code of Corporate Governance. Compliance with the King Reports is a requirement for companies listed on the Johannesburg Stock Exchange. The King Report on Corporate Governance has been cited as "the most effective summary of the best international practices in corporate governance".

<span class="mw-page-title-main">Adam Habib</span> South African academic

Adam Mahomed Habib is a South African academic administrator serving as Director of the School of Oriental and African Studies, University of London since 1 January 2021. He served as Vice-Chancellor and Principal of the University of the Witwatersrand (Wits) in Johannesburg, South Africa, between 1 June 2013, when the term of his predecessor Loyiso Nongxa ended, and 1 January 2021. He is also a former deputy vice-chancellor of the University of Johannesburg.

Robert (Bob) Wigley, OStJ, BSc, HonDBA, FCA, CCMI, is Chairman of UK Finance, a Non Executive Director of

Theophilous James Bennett "Theo" Botha is a South African shareholder activist. He has queried many companies in the area of good corporate governance, ethics, executive compensation, environmental practices and Black Economic Empowerment. He has also criticized South African corporate governance guidelines as too lenient.

<span class="mw-page-title-main">Xaba Sbusiso</span>

Sbusiso Xaba is the national chairman of Pan Africanist Congress of Azania from 2019. He was elected in PAC Mangaung National Congress and re-elected in 2022 Polokwane Congress.

<span class="mw-page-title-main">Maria Ramos</span> South African businesswoman

Maria Ramos is a South African businesswoman, banker and corporate executive who has been serving the chairperson of AngloGold Ashanti since 2020. She previously served as chief executive officer (CEO) of Absa Group Limited. Prior to joining Absa in March 2009, she was the CEO of Transnet. This was after serving as director-general of the National Treasury.

Fabian Ikenna Ajogwu [fabian ikena ad͡ʒoɡʷu], OFR, SAN, is a Senior Advocate of Nigeria, legal author, and governance advisor. He is Nigeria's first professor of corporate governance and holds a full professorship with the Lagos Business School, Pan-Atlantic University, where he has taught continuously since 2000.

<span class="mw-page-title-main">Nicholas Haysom</span> South African lawyer and diplomat

Nicholas Roland Leybourne "Fink" Haysom is a South African lawyer and diplomat who focuses on democratic governance, constitutional and electoral reforms and the reconciliation and peace process. Since 2021, he has been serving as the Special Representative of the United Nations Secretary-General and Head of the United Nations Mission in South Sudan (UNMISS).

<span class="mw-page-title-main">Lesetja Kganyago</span> South African banker (born 1965)

Lesetja Kganyago is a South African economist and central banker. He is the Governor of the South African Reserve Bank (SARB). He was appointed to that post on 6 October 2014, by Jacob Zuma, the former President of the Republic of South Africa (RSA). He assumed the Governorship of the South African Reserve Bank on 9 November 2014, following the expiry of the term of his predecessor Gill Marcus, on 8 November 2014.

<span class="mw-page-title-main">Anton Harber</span> South African professor of journalism (born 1958)

Anton Harber is a South African journalist. He is executive director of the Campaign for Free Expression, director of the Henry Nxumalo Foundation an adjunct professor of journalism at the University of the Witwatersrand, and the co-editor or author of five books.

Mervyn Frost is a South African and British political scientist.

Mervyn Hyman Cirota is a South African politician who serves as a Member of the Gauteng Provincial Legislature for the Democratic Alliance. He is an attorney by profession.

References

  1. 1 2 3 4 5 "Profile Summary: Mervyn Eldred King". Who's Who Southern Africa. Retrieved 4 August 2011.
  2. 1 2 3 4 5 6 7 8 "Citation: An Honorary Doctorate : Mervyn Eldred King, S.C. (B.A., LL.B. [Wits] cum laude)". University of the Witwatersrand. 2010. Archived from the original on 28 September 2011. Retrieved 4 August 2010.
  3. 1 2 3 4 Stewart, Neil (9 September 2010). "An Audience with the GRI's King". Inside Investor Relations. Archived from the original on 13 January 2011. Retrieved 4 August 2011.
  4. 1 2 "Personal Profile". mervynking.co.za. Retrieved 4 August 2011.
  5. ↑ Hendrikse, Dr. John W.; Kendrikse, Leigh (2004). Business Governance Handbook: Principles and practice, Volume 1. Juta Academic. p. 339. ISBN   0-7021-6499-2.
  6. ↑ Monks, Robert A. G.; Minow, Nell (2003). Corporate Governance. Wiley-Blackwell. p. 298. ISBN   1-4051-1698-6.
  7. ↑ Berwick, Graeme (2007). The Executives Guide to Insurance and Risk Management. Quality Results Pty Limited. p. 17. ISBN   9780957886612.
  8. ↑ Visser, Wayne; Matten, Dirk; Pohl, Manfred; Tolhurst, Nick (20 May 2010). The A to Z of Corporate Social Responsibility. ISBN   978-0-470-68650-8.
  9. ↑ "Application of and approach to King III". Naspers. Archived from the original on 23 August 2011. Retrieved 4 August 2011.
  10. ↑ "Corporate Governance". Omnia. Retrieved 4 August 2011.
  11. ↑ Banhegyi, Steve (2007). Management: Fresh perspectives. Pearson Education South Africa. p. 317. ISBN   978-1-86891-594-1.
  12. ↑ Dafel, Tertia (25 October 2010). "Judge Mervyn King Awarded 2010 IABC Africa Excel Award". International Association of Business Communicators. Archived from the original on 9 October 2011.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.