HealthPlus Retail Group — Organisation, Governance & Human Capital
The organisational structure, corporate governance, the management team and the human-capital and skills plan supporting the group.
Section 8 · Business Plan
Organisation, Governance & Human Capital
The organisational structure, corporate governance, the management team and the human-capital and skills plan supporting the group.
8.1 Governance Philosophy
HealthPlus is structured from inception to meet JSE Main Board
listing requirements and King IV principles. Governance is treated not
as a compliance overlay but as an investor protection mechanism:
independent board majority, ring-fenced clinical authority, and
separation between operating execution and capital allocation.
8.2 Board Composition
A nine-member board is established at financial close, comprising
five independent non-executive directors (including the Chair), two
executive directors (CEO, CFO), and two investor-nominated
non-executives. Three sub-committees — Audit & Risk, Remuneration
& Nominations, and Social & Ethics — operate with documented
terms of reference aligned to King IV.
| Role | Type | Background | Committee Membership |
|---|---|---|---|
| Chair | Independent Non-Exec | Former JSE-listed retail CEO | Nominations |
| Lead Independent Director | Independent Non-Exec | Senior banker / corporate finance | Audit & Risk (Chair) |
| Independent NED | Independent Non-Exec | Former Department of Health DG | Social & Ethics (Chair) |
| Independent NED | Independent Non-Exec | Big-4 audit partner (retired) | Audit & Risk |
| Independent NED | Independent Non-Exec | Healthcare clinician / academic | Social & Ethics |
| CEO | Executive Director | Retail / pharmacy executive | — |
| CFO | Executive Director | CA(SA), JSE-listed CFO experience | — |
| Investor NED (Equity) | Non-Executive | PE / DFI nominee | Remuneration |
| Investor NED (Senior Debt) | Non-Executive | Senior lender nominee (observer) | Audit & Risk |
Table 8.1 — Board composition at financial close
8.3 Organisational Structure
The operating organisation is built around four executive pillars
(Commercial, Operations, Finance, People & Risk) with a dedicated
Chief Pharmacy Officer reporting directly to the CEO. This structure
preserves clinical independence — a regulatory necessity under SAPC
rules — while enabling commercial integration.
8.4 Executive Team Profiles
The founding executive team has been assembled with a deliberate mix
of South African pharmacy retail experience, FMCG-grade commercial
discipline, and digital/technology depth. Detailed CVs are available in
the data room (see Appendix A).
| Role | Years Experience | Prior Roles (illustrative) | Key Mandate |
|---|---|---|---|
| Chief Executive Officer | 24 | JSE-listed retail GM; pharmacy chain MD | Strategy, capital, board |
| Chief Financial Officer | 19 | CA(SA); listed-co CFO; PE portfolio CFO | Capital, IR, controls |
| Chief Pharmacy Officer | 22 | SAPC Council; hospital pharmacy director | Clinical, regulatory |
| Chief Commercial Officer | 18 | FMCG category director; retail buying head | Range, pricing, private label |
| Chief Operations Officer | 20 | Retail ops director; supply chain executive | Stores, supply chain |
| Chief Technology Officer | 16 | Digital retail CTO; fintech platform lead | Tech, e-commerce, data |
| Chief People Officer | 17 | Listed-co CHRO; transformation specialist | Talent, culture, B-BBEE |
| Chief Marketing Officer | 15 | Loyalty programme architect; CPG marketing | Brand, loyalty, CRM |
Table 8.2 — Executive team profile
8.5 Headcount Plan
Total group headcount scales from 620 at end of Y1 to approximately
9,580 by end of Y5. Approximately 78% of headcount sits in stores; the
remainder is distributed across distribution, manufacturing, and
corporate functions. The plan is fully costed in the financial model
(see Section 10).
| Function | Y1 | Y2 | Y3 | Y4 | Y5 |
|---|---|---|---|---|---|
| Store operations (incl. pharmacists) | 480 | 1,640 | 3,420 | 5,680 | 7,420 |
| Distribution & logistics | 52 | 180 | 380 | 620 | 820 |
| Manufacturing (Pvt Label) | 24 | 78 | 184 | 294 | 380 |
| Commercial / buying | 18 | 46 | 92 | 142 | 182 |
| Technology & digital | 14 | 38 | 78 | 122 | 162 |
| Finance, risk, governance | 12 | 32 | 64 | 102 | 136 |
| People, brand, corporate | 20 | 46 | 94 | 154 | 208 |
| Group / executive | 6 | 12 | 18 | 24 | 32 |
| Total headcount | 620 | 2,150 | 4,480 | 7,350 | 9,580 |
Table 8.3 — Five-year headcount plan
8.6 Talent Strategy
Pharmacist supply is the single most binding constraint on store
rollout. South Africa produces approximately 800 new pharmacists
annually against an installed retail demand of ~2,400 incremental
positions through Y5 across all chains. HealthPlus addresses this
through four parallel mechanisms:
8.7 B-BBEE & Transformation
HealthPlus targets a Level 2 B-BBEE rating by end of Y2 and Level 1
by Y4. The plan is specifically architected to score on every element of
the Generic Scorecard, with particular strength in Ownership, Skills
Development, and Enterprise & Supplier Development.
| Element | Weight | Target Score | Strategic Approach |
|---|---|---|---|
| Ownership | 25 | 23 | 32% black ownership via ESOP + strategic investor |
| Management Control | 19 | 15 | Black executive representation ≥ 50% by Y3 |
| Skills Development | 20 | 18 | Bursaries, learnerships, pharmacist development |
| Enterprise & Supplier Development | 40 | 35 | Black-owned private-label suppliers, township logistics |
| Socio-Economic Development | 5 | 5 | 1% NPAT to community health initiatives |
| Total weighted score | 109 | 96 | Level 2 expected by Y2; Level 1 by Y4 |
Table 8.4 — B-BBEE scorecard plan
8.8 Culture & Code of Conduct
The HealthPlus operating culture is anchored in four explicit
behaviours — Care, Integrity, Pace, Ownership — codified in a Code of
Conduct adopted at financial close and refreshed annually. A
confidential whistle-blowing channel (independently administered) is
mandated from day one and reports directly to the Audit & Risk
Committee.
HealthPlus commits to publishing audited annual financial statements
within 90 days of year-end, an integrated annual report aligned to the
IFRS Foundation’s sustainability standards, and a quarterly investor
letter from the CEO from Y1. These reporting cadences exceed minimum
disclosure requirements for unlisted entities and prepare the business
for a JSE listing in Y4–Y5.
Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of HealthPlus Retail Group (Pty) Ltd.