| Thu 23 Apr 2009, 8:56 | | SHF / SHFF - Steinhoff / Steinhoff Investments - Change In Executive |
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SHF SHFF
SHF SHFF
SHF / SHFF - Steinhoff / Steinhoff Investments - Change In Executive
Responsibilities
STEINHOFF INTERNATIONAL HOLDINGS STEINHOFF INVESTMENT HOLDINGS LIMITED
LIMITED (Incorporated in the Republic of South
(Incorporated in the Republic of Africa)
South Africa) (Registration
(Registration Number 1954/001893/06)
Number 1998/003951/06) ("Steinhoff Investments" or "the company")
("Steinhoff" or "the company") Share Code: SHFF
Share Code: SHF ISIN: ZAE000068367
ISIN: ZAE000016176
CHANGE IN EXECUTIVE RESPONSIBILITIES
In compliance with paragraph 3.59 of the Listing Requirements of the JSE
Limited, the company would like to advise its shareholders of changes in the
responsibilities of certain of its executive management team to be implemented
with effect from 1 May 2009. The Human Resources and Remuneration Committee
(Remcom) and the executive management team have reviewed the group`s management
structures globally, its existing succession planning, as well as specific
identified requirements.
Mr Leon Cohen, who has acted as Non-Executive Chairman of PG Bison group since
1996, retired recently and it was resolved that Mr Chris van Niekerk succeed him
as Executive Chairman, resulting in a vacancy of Chief Executive Officer for the
PG Bison group. The PG Bison group includes the group`s interests in forestry,
sawmilling and its panel product operations. Jan van der Merwe, Chief Financial
Officer of Steinhoff, indicated that he wished to reduce his global
responsibilities and take up this opportunity. The Remcom resolved to redeploy
Jan van der Merwe in an operational capacity and to appoint him as Chief
Executive Officer of the PG Bison group. In view of this, the Remcom further
resolved to restructure the responsibilities of the International Group Services
team in the interim, and also to appoint chief financial officers in line with
the group`s operational structure for the Northern Hemisphere and Southern
Hemisphere respectively.
Shareholders are therefore advised of the following changes in executive
responsibilities:
- Jan van der Merwe (49) - Jan van der Merwe will be appointed Chief
Executive Officer of the PG Bison group and step down as Chief Financial
Officer and director of Steinhoff. In addition, Jan will resign as a
director of Steinhoff Investment Holdings Limited (SHFF), but will remain a
director of Steinhoff Africa Holdings (Pty) Limited (Steinhoff Africa).
- Chris van Niekerk (61) - Chris van Niekerk will step down as Chief
Executive Officer of the PG Bison group and will take over the
responsibility of Executive Chairman of that group. Chris will remain a
member of the board of Steinhoff Africa.
- Stehan Grobler (49) - Stehan Grobler, currently an alternate director, will
be appointed to the board of Steinhoff and will take over the
responsibilities of Group Treasury and Financing activities. Stehan will
be assisted in this function by the regional Chief Financial Officers being
Siegmar Schmidt for the Northern Hemisphere and Ben la Grange, for the
Southern Hemisphere. Stehan will remain Company Secretary.
- Piet Ferreira (53) - Piet, currently an alternate director, will be
appointed as director of Steinhoff and will take on full responsibility for
the group`s Corporate Services. This department will focus on mergers and
acquisitions and general advisory and secretarial services. In addition,
Piet will be appointed as executive director of SHFF.
- Mariza Nel (36) - A member of the Corporate Services team will continue to
take full responsibility for investor relations and corporate and
stakeholder communication.
- Ben la Grange (34) - Ben la Grange will take on the role of Chief Financial
Officer for the group`s Southern Hemisphere operations, including its
African and Pacific Rim investments. Ben will, in this capacity, also be
appointed to the boards of Steinhoff Africa and Steinhoff Asia Pacific
Holdings (Pty) Limited. Ben is a chartered accountant and has been in the
employ of the group, in the Corporate Services and Tax Departments, since
2003.
- Hein Odendaal (52) - Hein, who has acted as managing director of Steinhoff
Africa Group Services, will join the International Group Services team and
will take on the group`s global responsibility for audit compliance and
internal audit.
The shareholders are furthermore advised that the current positions and
responsibilities of the company`s Chief Executive Officer, Markus Jooste, the
Chief Executive Officer for the Southern Hemisphere operations, Danie van der
Merwe and the company`s financial director, Frikkie Nel, remain unchanged.
BY ORDER OF THE BOARD
SJ GROBLER
COMPANY SECRETARY
23 April 2009
SPONSOR: PSG CAPITAL (PTY) LIMITED
Date: 23/04/2009 08:56:50 Produced by the JSE SENS Department.
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