| Thu 1 Jul 2010, 7:05 | | RLO - Reunert Limited - Reunert Limited appoints a new CEO to the board |
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RLO
RLO
RLO - Reunert Limited - Reunert Limited appoints a new CEO to the board
REUNERT LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1913/004355/06
ISIN: ZAE000057428
JSE Code: RLO
("Reunert" or "the group")
REUNERT LIMITED APPOINTS A NEW CEO TO THE BOARD
Reunert today announced that Nick Wentzel has been appointed as the new Chief
Executive Officer ("CEO") of Reunert from 1 August 2010. He will replace
Gerrit (Boel) Pretorius who will step down as CEO and member of the board
at the same time, about a year before his employment contract ends.
Trevor Munday, Chairman of Reunert, commented on the appointment.
"It was regarded in the best interests of the group to initiate the
search for a successor well in advance of Boel`s retirement. Boel has
been chief executive since 1997 and we knew the internal and external
search-process would take time. With Boel`s agreement and active support,
the board therefore initiated a process of finding a successor for him in
February 2009, to allow for sufficient time to identify the best candidate
and to plan for a smooth handover period. Since then, the nominations
committee has considered numerous internal and external candidates with due
regard to the experience and profile that is required for the position.
We are pleased that we were able to identify an excellent candidate well in
advance, and to the board`s satisfaction."
Trevor Munday added, "Nick Wentzel (54) holds a B Com from the University
of Johannesburg and qualified as a chartered accountant in 1977. His
management experience includes working in the corporate finance division
of Hill Samuel Merchant Bank, being a general manager in the industrial
division of General Mining, and serving as divisional chairman of Tiger
Foods. He managed the unbundling of Astral Foods and became the first CEO
of that company following its unbundling. Since 2009 he has been CEO of
Parmalat SA including responsibility for Africa. I am confident that Nick`s
experience and proven track record will stand the group in good stead going
forward." Munday paid tribute to Pretorius` contribution as CEO, "Boel
has been among the most successful CEO`s in the history of Reunert. He is
highly respected, liked and admired throughout Reunert and by our various
stakeholders. During his twelve years as CEO the group has achieved
significant growth and success under his leadership, resulting in Reunert
becoming one of the top listed entities on the JSE. We are fortunate that
he will assist Nick Wentzel during a planned handover period. We wish
Boel and his wife Adele a very happy retirement."
For more information contact:
Carina de Klerk
Tel +27 11 517 9000
Mobile 0836315743
carina@reunert.co.za
Sandton
1 July 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 01/07/2010 07:05:06 Produced by the JSE SENS Department.
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