Question $4$

Study the scenario below and answer the questions that follow.

Bidvest Ltd

Dr$.$ Mike, an industrial chemist has recently been appointed to the postition of Chief Executive Officer $($CEO$)$ at Bidvest Ltd$,$ which is listed on the Johannesburg Stock exchange.

In preparation for his new assignment at the company, he has been trying to get to grips with the concept of corporate governance and all that it entails. As the recently appointed compliance officer at Bidvest Ltd$,$ he is seeking your assistance to clarify some issues of concern.

Source: Makumire, I. $2023$

Required:

$4\mathrm{.}1$ Provide a robust definition of corporate governance and a brief explanation of what you understand corporate governance entails.

$(10$ Marks$)$