A Consideration of The Role of The Company in Contemporary South African Society and The Traditional Concept of Directors Duties

November 2014

Abstract

Corporate South Africa has become entrenched in a plethora of tag lines such as “social responsibility”, “corporate social investment” and the “triple bottom line” in an apparent effort to “give back” to the community and thereby enhance its perceived image. The aforementioned phenomenon gives rise to an interesting question – to what extent must directors take cognizance of the interests of, inter alia, employees, the community, and the environment (“Broader Stakeholders”) when managing the affairs of the company?

Author

Darryl Jago

Legal Advisor, Total South Africa (Pty), South Africa

Darryl Jago is a legal advisor at a multi-national energy company by day and avid postgraduate student by night. After completing his law degree, Darryl spent a year working as a teaching intern at an elite private school only to uncover that his true passion lay not within the academic world, but rather within the legal profession where the operational nuances and dynamic opportunities appealed to his sense of intellectual adventure. Currently employed as a Legal Advisor by Total South Africa (Pty) Ltd, he has developed a keen fascination with the legal matrix associated with corporate law and its dynamic relationship with the functioning of a business. Armed with a competitive mindset and insatiable desire to be the smartest person in the room, Darryl has made it his mission to gain a deeper understanding of the law and legal conceptual strategy in pursuit of becoming one of the recognisable legal practitioners in South Africa. After two years as working as an in house legal advisor, Darryl is set to leave Total South Africa (Pty) Ltd in order to commence his articles of clerkship at Hogan Lovells (South Africa) in 2015.

Company

Total South Africa (Pty)

Total South Africa was established in 1954 and is 50.1% owned by multi-national Paris-based Company, Total Group. Total South Africa is a significant role player within the Total Group. Through its global alignment, Total South Africa strives to ensure that it is able to benefit from shared access to internationally acclaimed best practice, technological expertise and top flight business innovations. Total South Africa’s business focus encompasses the manufacturing, sales and marketing of a range of petroleum products for the retail, commercial, agricultural and industrial markets. With a portfolio of more than 547 service stations located throughout South Africa, Total South Africa is a key player in the country’s petrochemical market, with products ranging from jet fuel, liquid petroleum gas to lubricants, grease and kerosene. The company enjoys a 36.6% share in the Natref Refinery and has wholly owned subsidiaries in Namibia, Botswana, Lesotho and Swaziland. Total South Africa is committed to developing South Africa and was one of the first oil companies to introduce service stations in previously disadvantaged areas. Considered to be a pioneer within the local employment industry, Total South Africa is recognised for its substantial number of firsts when it comes to progressive transformation. Notably, it was the first multinational oil company in South Africa to appoint a female executive. During the sixties, it was also the first oil company to introduce its brand into what was then known as predominantly black townships, also taking the initiative to appoint black service station owners. Recently recognised as one of South Africa’s top employers by the 2014 Top Employer South Africa survey, Total South Africa is known for its outstanding working conditions and the exceptional manner in which it cares for its staff members. The company views employment contracts as two-way partnership and as such looks for meaningful ways in which to celebrate its people and the work which they put into making Total South Africa a success. The organisation’s outstanding employment environment is structured to nurture and develop talent throughout all spheres of the company.

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A Consideration of The Role of The Company in Contemporary South African Society and The Traditional Concept of Directors Duties

Abstract

Author

Company

Total South Africa (Pty)

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