BJM
BJM
BJM - Barnard Jacobs Mellet Holdings - Announcement
BARNARD JACOBS MELLET HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1995/004798/06)
Share code : BJM
ISIN :ZAE000014262
("BJM" or "the Group")
ANNOUNCEMENT
The board of directors of BJM ("the Board") advises that Kevin Jacobs will step
down as Group CEO, effective 1 August 2007. Kevin will remain as an executive
director on the Board.
This decision is implemented in advancing the Group`s succession plan and forms
part of a core objective that BJM will strengthen its transformation
initiatives. Accordingly, the Board is pleased to advise on the appointment of
Andile Mazwai as Group CEO, effective 1 August 2007. Andile currently serves as
an executive director on the Board, is the CEO of BJM`s wholly-owned subsidiary,
BJM Securities (Pty) Limited and has extensive experience in the industry, as
well as within BJM. Andile`s appointment is also consistent with the Board`s
preference for a locally-based CEO, in view of the difficulty that frequent
international travelling placed on the effectiveness of the Group CEO and on
Kevin personally.
Kevin will continue his commitment to the transformation of the BJM Group by
facilitating a further BEE equity transaction. He will also continue to play a
key role in the continuity of the business, and in particular with regard to the
international offices.
Kevin fully supports this decision which comes after due consideration and
confidence in the existing management team to implement the strategic plans of
the Group. Under his leadership, BJM has grown significantly and his
contribution to the Group has been immeasurable. The Board expresses its sincere
gratitude for this and looks forward to his further contribution.
Rosebank
11 July 2007
Sponsors:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Deloitte & Touche Sponsor Services (Pty) Limited
Date: 11/07/2007 10:41:53 Produced by the JSE SENS Department.
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