| Thu 3 Dec 2009, 10:07 | | SLM - Sanlam Limited - Changes in directorship |
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SLM
SLM
SLM - Sanlam Limited - Changes in directorship
Sanlam Limited
(Incorporated in the Republic of South Africa)
(Registration number 1959/001562/06)
JSE share code: SLM
NSX share code: SLA
ISIN number: ZAE000070660
("Sanlam" or "the company" or "the Group"}
Changes in directorship
Notification is hereby given in accordance with the JSE Limited Listings
Requirements of the following changes in the directorship of Sanlam:
Roy Andersen, the non-executive chairman of the Board has indicated that he
wishes to step down as chairman and a director of the company at the annual
general meeting to be held on 9 June 2010 at which time he will have completed
two three-year terms as a director. He served as non-executive chairman since
June 2004.
Patrice Motsepe who is one of South Africa`s leading entrepreneurs and is deputy
chairman of the Board and also leader of Sanlam`s anchor empowerment
shareholder, Ubuntu-Botho was unanimously requested to accept the position of
Chairman of Sanlam. Mr Motsepe however humbly indicated that due to his
extensive business commitments and obligations, he was unfortunately not in a
position to accept this appointment.
The Board thereafter proceeded to unanimously appoint Desmond Smith as chairman-
elect to succeed Mr Andersen on 9 June 2010. He is currently an independent non-
executive director of Sanlam and chairman of Santam Limited ("Santam").
Mr Motsepe commented: "We are sorry that Roy has decided to step down as
chairman and, while he will still be chairman until June next year, I would like
to express my appreciation and gratitude to him for the exemplary and
outstanding manner in which he has served the company and all its stakeholders
as Chairman of the Sanlam Board.
While I humbly regret that I am not in a position to accept the chairmanship of
Sanlam because of my extensive business commitments and obligations, I am
pleased that we can announce the appointment of a person with Desmond`s skills
and vast experience of the industry as chairman-elect of our Group.
Sanlam is a truly South African company and is committed to ensuring that our
business and employment practices reflect the demographics and rich cultures and
traditions of all our people", Motsepe concluded.
The Sanlam Board also announced the appointment of Dr Yvonne Muthien (53) and
Temba Mvusi (54) as executive directors on the Boards of Sanlam and Sanlam Life
Insurance Limited with immediate effect.
Dr Muthien will hold the portfolio of Chief Executive: Group Services on the
Executive Committee of Sanlam and Mr Mvusi the portfolio of Chief Executive:
Market Development of Sanlam.
Notes:
Desmond Smith joined Sanlam in 1968, where he became Managing Director in 1993.
He retired from Sanlam at the end of 1997 and served as Managing Director of the
Reinsurance Group of America (South Africa) (RGA) from 1999 until 2005
He is a Past President of the Pensions Institute of Southern Africa and of the
Actuarial Society of South Africa. He currently serves on a number of the
committees of the Society and the International Actuarial Association. He was
Chairman of the Life Offices Association of South Africa (LOA) in 1996, 2004 and
2008. He is past Chairman of the Council of Stellenbosch University, serves on
the Advisory Board of the University`s Graduate School of Business and is
Chairman of the Stellenbosch Institute for Advanced Studies (STIAS). He serves
on the Advisory Committee on Long-term Insurance and the Council of the
Ombudsman for Long-term Insurance.
Dr Muthien is currently a scenario and strategy consultant and former Vice
President and Director of Strategic Projects, Public Affairs and Communications
of the Coca-Cola Africa Group. Prior to that she was Group Executive: Corporate
Affairs of MTN Mobile, a director of the South African Democracy Education
Trust, an executive director of the Human Sciences Research Council and a
commissioner of the Public Service Commission.
She currently serves on the boards of Sentech, Aurecon and the Sasol Inzalo
Foundation. She has also been the chairperson of the President`s Advisory
Council on National Orders since 1998.
Temba Mvusi is currently Chief Executive: Group Market Development of Sanlam,
Executive Head: Market Development at Santam and also a member of Sanlam`s Exco.
He was a former general manager of Gensec and joined Sanlam Investment
Management in 2001 as head of business development before becoming chief
executive of Group Services at Sanlam in 2004. He earlier held a number of
positions in the private sector as well as in Government. He currently serves on
the Council of the Walter Sisulu University as well as Bishops and he is a
director of Sanlam Development Markets, Sanlam Investment Management (Pty) Ltd,
Sanlam Private Investments (Pty) Ltd, National Business Initiative, South
African Master Distributors, John Daniel Holdings Limited, Millbloem 60 (Pty)
Ltd and Any Name 370 (Pty) Ltd.
Bellville
3 December 2009
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 03/12/2009 10:07:02 Produced by the JSE SENS Department.
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