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(From Financial Mail)
Byline: Andrew McNulty
BARLOWORLD A bit too exclusive Warren Clewlow Time to go For a large, listed group that prides itself on its standards of corporate governance and emphasises sustainability reporting, Barloworld has left itself surprisingly vulnerable to criticism over its progress with black economic empowerment (BEE).
In an unusually public display of shareholder activism, Brian Molefe, CE of the Public Investment Corp (PIC), which controls about 17%, publicly chastised the group before its AGM this week. He expressed concerns about governance as well as BEE.
My main concern is that they've never had a black executive director, says Molefe. That is …