| Fri 18 Feb 2011, 11:00 | | INL/INP - Investec Limited/Investec plc - Directorate change |
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INL INP
INL INP
INL/INP - Investec Limited/Investec plc - Directorate change
Investec Limited Investec plc
Incorporated in the Republic of Incorporated in England and
South Africa Wales
Registration number Registration number 3633621
1925/002833/06 JSE share code: INP
JSE share code: INL ISIN: GB00B17BBQ50
ISIN: ZAE000081949
As part of the dual listed company structure, Investec plc and Investec Limited
notify both the London Stock Exchange and the JSE Limited of matters which are
required to be disclosed under the Disclosure, Transparency and Listing Rules of
the United Kingdom Listing Authority (the "UKLA") and/or the JSE Listing
Requirements.
Accordingly we advise of the following:
Investec plc and Investec Limited - Directorate changes
After serving as Chairman for more than 17 years, Hugh Herman has decided that
it is the appropriate time to retire from the boards of Investec Limited and
Investec plc (the "Board"). This will take effect on 17 November 2011, the date
of the release of our interim results.
Fani Titi and Sir David Prosser, who have served on the Investec Limited and
Investec plc boards, for 7 years and 5 years respectively, will assume the role
of Joint Chairman. Fani Titi is currently Chairman of Investec Bank Limited and
Sir David Prosser is the group`s Senior Independent Non-Executive Director.
The Board is of the opinion that the appointment of Joint Chairmen will best
serve the interests of all the group`s stakeholders given the group`s dual
listed companies structure, much changed regulatory and financial landscape, and
growth in both its South African and UK operations over the past few years.
The Board would like to thank Hugh for his contribution to the group over such a
long period. Since he joined the Board in 1994, Investec has grown from a small
South African financial services company into an international FTSE100
specialist bank and asset manager. Hugh has played an invaluable role, as a
colleague and friend, in chairing the Board and supporting the executive team
during this time and the whole Board wishes him well in his retirement.
Biographies
Fani Titi: BSc (Hons) MA MBA
Fani is a former executive director of ABIL Limited and founding CEO of Kagiso
Media Limited. He was the founding executive Chairman of the private equity firm
Tiso Group (Pty) Limited. He is currently non-executive Chairman of Investec
Bank Limited and AECI Limited. He also serves on the board of Investec Asset
Management.
Sir David Prosser : BSc (Hons) FIA
Sir David was previously Chief Executive of Legal & General Group PLC, joining
Legal & General in 1988 as group director (Investments) becoming deputy chief
executive in January 1991 and group executive in September 1991. Sir David was
also previously Chairman of the Financial Services Skills Council. His
directorships include Epsom Downs Racecourse Limited and The Royal Automobile
Club Limited.
Contact for queries
Investec
Hugh Herman: +27 (0) 11 286 7070
Fani Titi: +27 (0) 11 286 7070
Sir David Prosser: +44 (0) 207 597 5546
Brunswick - South African PR Advisors
Marina Bidoli or Cecilia De Almeida: +27 (0) 11 502 7300
Citigate Dewe Rogerson - UK PR Advisors
Jonathan Clare or Tom Baldock: +44(0) 207 638 957
Sponsor: Investec Bank Limited
18 February 2011
Date: 18/02/2011 11:00:01 Produced by the JSE SENS Department.
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