FRAMEWORK

Harmony fully subscribes to the principles of integrity, accountability and transparency and complies with generally accepted business practices by which corporate entities seek to govern themselves. It is committed to an open governance process, through which its employees and shareholders may derive assurance that the organisation is managed ethically, according to sound and effective risk management parameters and in compliance with best international practices.

The underpinning principles of Harmony’s corporate governance practices rest upon the three cornerstones of an effective and efficient organisation, namely: day-to-day management processes, a long-term strategic planning process and effective transformation processes. All these processes are supported by Harmony systems which are used to plan, execute, deliver and control strategic and operational domains of the organisation.

The Harmony board believes that the organisation has applied and complied with the principles incorporated in the Code of Corporate Practices and Conduct as set out in the King Report. All the key principles underlying the King recommendations have been reflected in Harmony’s corporate governance structures, which are reviewed from time to time to take into account corporate changes and international develop-ments with regard to corporate governance.