Mervyn King (judge)
Encyclopedia
Mervyn Eldred King is a South Africa
n corporate attorney, arbitrator
, mediator
, corporate director, commission chair, author and speaker. A former judge of the Supreme Court of South Africa
, he is currently the director of the Global Reporting Initiative
and 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.
, where he earned his Bachelor of Arts, Bachelor of Law, and a higher diploma in tax law.
From 1961 to 1964 he was a practicing attorney. From 1965 to 1979 he was an advocate to the Supreme Court of South Africa, specializing in commercial law; he was appointed senior counsel in 1975. He became a judge of the Supreme Court of South Africa in 1977. He resigned that post in 1980 – reportedly after an altercation with Prime Minister P. W. Botha – 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. In later years, he chaired and was a director of Capital Alliance Ltd and Metro Cash & Carry Ltd.
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 organization.
.
was held in Johannesburg, King pushed for a revision of the report (King II), including new sections on sustainability
, the role of the corporate board, and risk management
. The report was further revised in 2009 (King III). 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".
'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.
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 (U.S.), 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.
In South Africa, King holds the following positions:
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
n corporate attorney, arbitrator
Arbitration
Arbitration, a form of alternative dispute resolution , is a legal technique for the resolution of disputes outside the courts, where the parties to a dispute refer it to one or more persons , by whose decision they agree to be bound...
, mediator
Mediation
Mediation, as used in law, is a form of alternative dispute resolution , a way of resolving disputes between two or more parties. A third party, the mediator, assists the parties to negotiate their own settlement...
, corporate director, commission chair, author and speaker. A former judge of the Supreme Court of South Africa
Supreme Court of South Africa
The Supreme Court of South Africa was a superior court of law in South Africa from 1910 to 1996. It was made up of various provincial and local divisions with jurisdiction over specific geographical areas, and an Appellate Division which was the highest appellate court in the country...
, he is currently the director of the Global Reporting Initiative
Global Reporting Initiative
The Global Reporting Initiative produces one of the world's most prevalent standards for sustainability reporting - also known as ecological footprint reporting, Environmental Social Governance reporting, Triple Bottom Line reporting, Corporate Social Responsibility reporting...
and the Association of Business Administrators of Southern Africa. He is best known for chairing the King Committee on Corporate Governance
King Report on Corporate Governance
The King Report on Corporate Governance is a ground-breaking code of corporate governance in South Africa issued by the King Committee on Corporate Governance. Three reports were issued in 1994 , 2002 , and 2009 . Compliance with the King Reports is a requirement for companies listed on the...
, which issued three comprehensive reports in 1994, 2002 and 2009 endorsing an integrated and inclusive approach to corporate governance
Corporate governance
Corporate governance is a number of processes, customs, policies, laws, and institutions which have impact on the way a company is controlled...
in South Africa.
Biography
King was born on 22 July 1937 to Aubrey and Mona King. He attended the University of the WitwatersrandUniversity of the Witwatersrand
The University of the Witwatersrand, Johannesburg is a South African university situated in the northern areas of central Johannesburg. It is more commonly known as Wits University...
, where he earned his Bachelor of Arts, Bachelor of Law, and a higher diploma in tax law.
From 1961 to 1964 he was a practicing attorney. From 1965 to 1979 he was an advocate to the Supreme Court of South Africa, specializing in commercial law; he was appointed senior counsel in 1975. He became a judge of the Supreme Court of South Africa in 1977. He resigned that post in 1980 – reportedly after an altercation with Prime Minister P. W. Botha – 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. In later years, he chaired and was a director of Capital Alliance Ltd and Metro Cash & Carry Ltd.
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 organization.
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. 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 tennisTennis
Tennis is a sport usually played between two players or between two teams of two players each . Each player uses a racket that is strung to strike a hollow rubber ball covered with felt over a net into the opponent's court. Tennis is an Olympic sport and is played at all levels of society at all...
.
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. King I was the first report of its kind in South Africa. In 2002, when the Earth SummitEarth Summit 2002
The World Summit on Sustainable Development, WSSD or Earth Summit 2002 took place in Johannesburg, South Africa, from 26 August to 4 September 2002. It was convened to discuss sustainable development by the United Nations. WSSD gathered a number of leaders from business and non-governmental...
was held in Johannesburg, King pushed for a revision of the report (King II), including new sections on sustainability
Sustainability
Sustainability is the capacity to endure. For humans, sustainability is the long-term maintenance of well being, which has environmental, economic, and social dimensions, and encompasses the concept of union, an interdependent relationship and mutual responsible position with all living and non...
, the role of the corporate board, and risk management
Risk management
Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities...
. The report was further revised in 2009 (King III). 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".
International arena
From 2000 to 2008, King was the South African representative on the International Chamber of CommerceInternational Chamber of Commerce
The International Chamber of Commerce is the largest, most representative business organization in the world. Its hundreds of thousands of member companies in over 130 countries have interests spanning every sector of private enterprise....
's International Court of Arbitration
International Court of Arbitration
The International Court of Arbitration is an institution for the resolution of international commercial disputes. The International Court of Arbitration is part of the International Chamber of Commerce....
in Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
. He was the first president of the Commonwealth Association of Corporate Governance and a former Governor of the International Corporate Governance Network.
He is currently a member of the Private Sector Advisory Group to the World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
on Corporate Governance and a member of the international advisory boards of Stern Stewart (U.S.), Tomorrow's Company
Tomorrow's Company
Tomorrow’s Company is a business-led think tank based in the United Kingdom. Its stated goal is to work as a catalyst to help realise its vision of "a future for business which makes equal sense to staff, shareholders and society."...
(United Kingdom), and the Central European Corporate Governance Association. He chairs the Asian Centre of Corporate Governance, the United Nations
United Nations
The United Nations is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace...
Committee on Governance and Oversight, and the Global Reporting Initiative.
In South Africa, King holds the following positions:
- Director of JD Group Limited (since 1995)
- Director of Brait Societe Anonyme (since 1998)
- Director of Strate, the settlement arm for equity trading in South Africa (since 1999)
- Director of the Association of Business Administrators of Southern Africa (since 2004)
- President of the Advertising Standards Authority
- First Vice-President of the Institute of Directors Southern Africa
- Chairman of the Automobile Association of South AfricaAutomobile Association of South AfricaThe Automobile Association of South Africa, often abbreviated AA has been operating in South Africa since 1930. It is a non-profit organisation providing services to its Members such as roadside assistance, technical and motor-related legal advice...
- Chairman of the Appeal Committee of the United Cricket Board of South AfricaCricket South AfricaCricket South Africa is the governing body for professional and amateur cricket in South Africa. The board was originally created as the United Cricket Board of South Africa in 1991.-History:...
- Member of the Securities Regulation Panel (which oversees all acquisitions and mergers in South Africa)
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”.Honors and awards
- 2010: International Association of Business Communicators Africa Excel Award
- 2010: Honorary doctorate from the University of the Witwatersrand