BIEDC1 - Edcon (Proprietary) Limited - Appointment of New Edcon CFO and
JSE
BIEDC1
BIEDC1 - Edcon (Proprietary) Limited - Appointment of New Edcon CFO and
Board Member
Edcon (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2007/003525/07)
Company code: BIEDC1
("Issuer" or "Edcon")
APPOINTMENT OF NEW EDCON CFO AND BOARD MEMBER
Edcon wishes to advise bondholders that Mark Richard Bower will be
appointed `Deputy Chief Executive and Chief Financial Officer` and a
member of the Board of Edcon Holdings (Proprietary) Limited with effect
from 1st July 2012. In his 21 years at Edcon, Mark has not only been the
Finance Director of Edgars Consolidated Stores Limited, but has also held
leadership positions in the retail chains and group services including
credit, property, IT and logistics.
Stephen Robert Binnie has resigned but will remain Chief Financial
Officer of Edcon until 30th June 2012 to ensure a smooth handover. The
Board would like to thank Steve sincerely for his significant
contributions and accomplishments throughout his past 10 years at Edcon.
Commenting on the announcement, Edcon CEO Jurgen Schreiber, said: "We are
very pleased to welcome Mark to the Board and to expand his leadership
role at Edcon. His deep financial experience will ensure that this will
be a seamless transition. I have immense confidence in Mark`s ability to
excel in his expanded role, to help Edcon continue its strong growth and
to prepare for future opportunities."
Prior to his employment at Edcon, Mark was an audit partner at Deloitte
and has been a director of listed companies for 27 years as well as a
trustee of the Eden Trust/Thuthuka Bursary Fund for the advancement of
Black Chartered Accountants since 1989. He holds a BCom from Natal
University, BCompt Honours from the University of South Africa and is a
qualified Chartered Accountant.
On behalf of: Edcon
Further info: FTI Consulting
Lianne Osterberger - 011 214 2414 / 083 272 7313
17 January 2012
Debt Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Date: 17/01/2012 09:00:26 Produced by the JSE SENS Department.
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