| Fri 20 Apr 2012, 8:55 | | ARH - ARB Holdings - Change to the Board and succession |
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ARH
ARH
ARH - ARB Holdings - Change to the Board and succession
ARB HOLDINGS LIMITED
(Registration number: 1986/002975/06)
Share code: ARH ISIN: ZAE000109435
("ARB Holdings" or "the Group")
CHANGE TO THE BOARD AND SUCCESSION
After 20 years with the Group, the last 15 of which as CEO of ARB Electrical
Wholesalers (Pty) Limited ("ARB Electrical"), a major subsidiary of the Group,
Craig Robertson has informed the Board of Directors of ARB Holdings ("the
Board") of his desire for a change in lifestyle and his need for a new
challenge. Accordingly, Craig will step down as CEO of ARB Electrical with
effect from 31 December 2012. Craig remains a significant shareholder in ARB.
In accordance with our Group Succession Plan, and following the completion of a
formal process by the Board to identify a successor, the Board is pleased to
announce that Blayne Burke, the current Procurement Director of ARB Electrical,
will be appointed as Chief Operating Officer of ARB Electrical with effect from
1 June 2012 with the intention of assuming the role of CEO of ARB Electrical
from 1 January 2013. Over the course of the next eight months, Craig will work
very closely with Blayne to ensure a well-structured, smooth and efficient
handover process.
Blayne holds a Bachelor of Commerce degree in Politics, Philosophy and Economics
as well as an Honours degree in Financial Analysis and Portfolio Management.
During his time at ARB Electrical, Blayne has gained a broad spectrum of
experience in most areas of the business including as national credit manager,
branch manager of the Gauteng branch, ARB Electrical`s largest operation, and
more recently, as Procurement Director.
Consistent with good corporate governance and international best practice, Craig
will step down as a director of ARB Holdings with effect from 1 July 2012. The
Board of ARB Holdings will thereafter comprise two executive directors, the
Group Chief Executive Officer and the Group Financial Director, and 5 non-
executive directors, 3 of whom are independent.
Durban
20 April 2012
Sponsor
Grindrod Bank Limited
Date: 20/04/2012 08:55:03 Produced by the JSE SENS Department.
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