SER / SRN - Seardel - Changes To Executive Responsibilities And Retirement Of
SER SRN
SER
SER / SRN - Seardel - Changes To Executive Responsibilities And Retirement Of
Director
SEARDEL INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/011249/06)
Share code: SER & ISIN Code: ZAE000029815
Share code: SRN & ISIN Code: ZAE000030144
("Seardel" or "the company")
CHANGES TO EXECUTIVE RESPONSIBILITIES AND RETIREMENT OF DIRECTOR
In compliance with section 3.59 to 3.62 of the Listings Requirements of the JSE
Limited, shareholders are advised of the following changes in roles of Seardel`s
management:
- Mr Walter Simeoni is due to retire as Group Chief Executive Officer with
effect from November 2009.
Mr Simeoni has been the Chief Executive Officer of the Frame Textile Group
(an operating division of Seardel) for 18 years, and is an internationally
regarded textile expert. He has been an Executive Director of Seardel for 8
years and was appointed Group Chief Executive Officer in June 2008. His
textile knowledge will not be lost to the group after his retirement as he
has agreed to assist the group post his retirement should the need arise.
- As part of Seardel`s succession planning, Mr Stuart Queen, currently Group
Chief Financial Officer, has been appointed as the Group Chief Executive
Officer (designate). The company is expected to announce a new Chief
Financial Officer in due course but in the interim, Mr Queen will retain
his Chief Financial Officer responsibilities.
- Mr Anthony Dixon-Seager, the current Chief Executive Officer-Clothing will
become the Group`s Chief Operating Officer and his responsibilities will be
expanded to include the operations of the group`s textile division in
addition to his current clothing division responsibilities. Mr Dixon-Seager
has a wealth of senior management experience in manufacturing environments
across a number of industries. He has been with the Hosken Consolidated
Investments Group Limited for 5 years.
3 March 2009
Sponsor
Java Capital (Proprietary) Limited
Date: 03/03/2009 16:31:03 Produced by the JSE SENS Department.
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