| Fri 7 Dec 2007, 12:00 | | DSY - Discovery - Changes To The Board Of Directors |
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DSY
DSY
DSY - Discovery - Changes To The Board Of Directors
Discovery Holdings limited
(Incorporated in the Republic of South Africa)
(Registration number: 1999/007789/06)
ISIN: ZAE000022331
Share Code: DSY
("Discovery")
CHANGES TO THE BOARD OF DIRECTORS
Shareholders are advised of the following changes to the board of directors
of Discovery ("the board"), resulting from the recent unbundling as
disclosed on SENS on 13 September 2007:
1. Mr Laurie Dippenaar (Non executive Chairman), Mr Johan Burger (non-
executive) and Mr Paul Harris (non-executive) have resigned from the
board with effect from 31 December 2007;
2. Mr Monty Hilkowitz has been appointed as non-executive chairman with
effect from 1 January 2008. Mr Hilkowitz` long service on the board
and international experience in the UK market, Ireland and Australia
place him as a natural successor to Mr Dippenaar;
3. Mr Les Owen has been appointed to the board as a non-executive
director with effect from 6 December 2007. Mr Owen is a UK citizen and
an actuary with over 30 years of experience in the UK and Australian
insurance markets. Mr Owen was Group Chief Executive of AXA Asia
Pacific Holdings Limited, from 2000 to 2006, and was a non-executive
director of AXA UK until recently. Given the growing importance of
Discovery`s UK operations, Les brings tremendous value to the board;
and
4. Ms Tania Slabbert and Mr Peter Cooper have been appointed to the board
as non-executive directors with effect from 1 January 2008,
representing WDB Investment Holdings (WDBIH) and RMB Holdings (RMBH)
respectively. Ms Slabbert is CEO of WDBIH, Discovery`s BEE partner,
and Mr Cooper is COO of RMBH. Ms Slabbert joins the three incumbent
female non-executive directors on the board namely Sindi Zilwa, Sonja
Sebotsa and Dr Judy Dlamini.
Shareholders are advised of the following changes to the board Committees
of Discovery:
1. Mr Laurie Dippenaar has resigned from the Remuneration Committee with
effect from 31 December 2007 and Dr Judy Dlamini will take over as
chair of the Committee on 1 January 2008. Mr Peter Cooper will join
the Remuneration Committee as from 1 January 2008. The Committee will
then comprise Dr Judy Dlamini, Ms Tania Slabbert Mr Peter Cooper and
Mr M Olivier; and
2. Mr Johan Burger and Mr Adrian Arnott have resigned from the Audit and
Risk Committee with effect from 31 December 2007 and Mr Peter Cooper
will be appointed to and take over as chair of the Committee on 1
January 2008. The Committee will then comprise Peter Cooper, Sonja
Sebotsa and Sindi Zilwa.
Enquiries:
Allim Milazi
Discovery Media Relations
011-529-2048
082-889-5874
Sonja Malan
FD Beachhead Media & Investor Relations
011-214-2400
083-635-6965
07 December 2007
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 07/12/2007 12:00:01 Produced by the JSE SENS Department.
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