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AFB
AFB
AFB - Alexander Forbes Limited - Change in directorate and senior
management
Alexander Forbes Limited
Registration number: 1958/001974/06
JSE share code: AFB
NSX share code: AFS
BSE share code: FORBES
ISIN: ZAE000018230
("Alexander Forbes")
PRESS RELEASE
Change in Directorate and Senior Management
The board of Alexander Forbes said today that Group Finance Director, Mike
Ilsley, had resigned from his position and would be replaced by Deon
Viljoen with immediate effect. Although Ilsley will come off the board of
the Company on 1 June 2007, he has agreed to continue as a senior executive
of the group until 31 March 2008, which will ensure a smooth handover of
his responsibilities to Viljoen.
Peter Moyo, Group Chief Executive, complimented Ilsley, saying that
throughout his tenure he had made a significant contribution to the group
and had been an invaluable member of its leadership team. Moyo said Ilsley
had played a key role in the resolution of a number of legacy issues for
the group, the development of the group`s financial reporting and the
strengthening of the group`s balance sheet.
Deon Viljoen, who is a chartered accountant, joined the group as Finance
Director of Investment Solutions in 2003 and in November 2004 was appointed
as the Africa Finance Director.
Moyo said that he had been impressed with Viljoen`s performance and noted
he had fulfilled his role with distinction. "Viljoen`s considerable
experience as well as his close working relationship with me and with Mike
Ilsley means that he is well placed to succeed Mike as Group Finance
Director."
Appointment of Deputy Managing Director to Alexander Forbes Financial
Services South Africa
In addition to the abovementioned change, the Group is also pleased to
announce the appointment of Nomkhita Nqweni as Deputy Managing Director of
the South African Financial Services business with effect from 1 May 2007.
She will join Managing Director, Howard Walker, who has been responsible
for the business since 2000.
Nomkhita Nqweni holds a BSc degree from Rhodes University and a Post
Graduate Diploma in Investment Management from RAU (now University of
Johannesburg). Nqweni has a proven track record within the Alexander
Forbes group where she held senior management positions initially in
Investment Solutions responsible for Business Development for six years and
more recently assisting developing the strategy of the group, reporting
directly to Peter Moyo.
In addition, she is involved in various industry associations. She is an
Executive Committee member and Deputy President of the Association for
Black Securities and Investment Professionals (ABSIP), she is a Board
member of the Financial Sector Charter Council and a Board member of the
Business Women`s Association.
Moyo said, "I am confident that together with Howard Walker and the current
Financial Services team, Nomkhita is well placed to become a senior member
of the team that takes Alexander Forbes Financial Services South Africa
into the future."
Issued by: FDBeachhead (Jennifer Cohen)
011 214 2401 / 082 468 6469
On behalf of: Alexander Forbes
Further info: Peter Moyo
011 269 1500
Date: 23/04/2007 16:37:08 Produced by the JSE SENS Department.
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