21-Sustainability  Our Stakeholders

Our Stakeholders

Pioneer Foods recognises that effective stakeholder engagement is the basis for good corporate governance and is committed to the stakeholder inclusive approach recommended by King III. The Group’s approach is guided by a stakeholder relations policy, which recognises that social, economic and environmental interests are integral to the success of the business.

The Group has strategically consolidated stakeholder engagement activities. Details of the Group’s key stakeholders, engagement channels, key concerns and company responses, critical for value creation, are shown in the table below:

Stakeholder Engagement channels Key concerns Company response
Shareholders and investors Results presentations
One-on-one interactions
Investor relations briefings
Site meetings
AGM
Effectiveness of strategy
Return on investment
Performance relative to peers
The strategy sets targets and a clear roadmap to improve the Group’s financial performance.
Customers and consumers Forums
One-on-one interaction
Advertising
Corporate website
Customer care centre
In-store communication and campaigns
Service
Price
Rewards
Key sustainability issues
Retailer concentration
Private label growth
Consumption growth
Pioneer Foods continues to deepen its knowledge and understanding of its customers and consumers to ensure strategic collaboration on all levels.
Employees Electronic communication such as intranet, e-mail and desktop screensavers
CEO blog
Newsletters
Surveys
Face-to-face briefings
Management presentations
Bulletin boards
Engagement Opportunities for advancement
Job security
Training
Pioneer Foods offers competitive remuneration, opportunities for skills and career development. Short and long term incentive schemes have been competitively benchmark. The annual engagement survey measures and guides business concerning employee engagement.
Communities Interactions with NGO’s and various CSI initiatives. Community upliftment Pioneer Foods supports communities through various socio-economic development programmes and the activities of PFECT.
Government and regulators Monitoring and lobbying on important industry issues by senior management
Co-funding projects aligned to CSI strategy
Engagement with relevant industry bodies
Regulatory compliance
Transformation
Environmental management
Social investment
The Group has a compliance monitoring function and comments on proposed legislation are continuously submitted.
Suppliers Ongoing interaction Fair and equitable trading The Group engages with suppliers in an ethical manner.
Business partners Joint ventures
Partner meetings and reviews
Strategy
Product expansion and growth
Key sustainability issues
Pioneer Foods continues to shape its corporate portfolio through strategic partnerships.

View Pioneer Foods’ Stakeholder Policy Statement (PDF - 317 KB)