| Thu 26 Mar 2009, 8:00 | | NED - Nedbank Group - Resignations of Nombulelo Moholi and Rob Shuter |
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NED
NED
NED - Nedbank Group - Resignations of Nombulelo Moholi and Rob Shuter
NEDBANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
NSX share code: NBK
ISIN: ZAE000004875
("Nedbank Group" or "the group")
RESIGNATIONS OF NOMBULELO MOHOLI AND ROB SHUTER
Nedbank Group announces the resignation of two members of its Group Executive
Committee, namely Nombulelo (Pinky) Moholi and Rob Shuter.
Pinky Moholi, who is Group Executive: Strategy, Marketing and Corporate Affairs,
has accepted a position in the Information and Communication Technology (ICT)
sector. She will be leaving Nedbank at the end of April 2009. Pinky commented on
her resignation, "While I have spent three full and hugely valuable years, from
a personal perspective, at Nedbank, I am really looking forward to the
challenges in my new position. The timing of my resignation is indeed
unfortunate and I remain confident that the transformation journey we started in
Nedbank is going to be in good hands with Mike Brown at the helm from February
next year. Mike is a highly respected banker under whose leadership I see a
great future for Nedbank. "
Rob Shuter is Managing Executive of Nedbank Retail and has decided to leave the
group to pursue other opportunities. Rob will be serving his notice period until
the end of April. Rob commented on his resignation: "It is with mixed emotions
that I have decided to leave the Nedbank Group. I have enjoyed my time at
Nedbank immensely and have gained valuable and varied experience. However, after
more than nine years with the group I feel it is time for a change. At this
stage I have no immediate plans, but wish to take some time off to reflect and
decide on my next career move. I know Mike Brown will do an excellent job as
Chief Executive Officer and I wish him and the team great success in the
future."
Tom Boardman Chief Executive Officer commented: "We are very sorry to see both
Pinky and Rob leave the group. Pinky has led the Nedbank brand repositioning
strategy which has seen the awareness of the Nedbank brand growing faster than
all other large financial services brands in South Africa over the past few
years. However, she has been offered a new and exciting challenge and we wish
her every success."
"Under Rob`s leadership our retail business has made enormous improvements in
client service, systems, risk management and brand repositioning, as well as
expanding the group`s distribution network. Rob`s departure will be a big loss
to the group, but we understand his position and wish him all the best in the
future.
"We are in the fortunate position of having strong depth of management to ensure
continuity in both of these positions. We will start the selection process
immediately and hope to announce successors to Rob and Pinky shortly."
Sandton
26 March 2009
Sponsors to Nedbank Group in South Africa:
Merrill Lynch South Africa (Pty) Limited
Nedbank Capital
Sponsor to Nedbank Group in Namibia:
Old Mutual Investment Services (Namibia) (Pty) Ltd
Date: 26/03/2009 08:00:01 Produced by the JSE SENS Department.
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