| Tue 8 May 2012, 7:41 | | MSM - Massmart Holdings Limited - Change in Executive Director`s Role and |
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MSM
MSM
MSM - Massmart Holdings Limited - Change in Executive Director`s Role and
Appointment of Executive Director
Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1940/014066/06)
Share code: MSM
ISIN: ZAE000152617
("Massmart" or "the Company")
Change in Executive Director`s Role and Appointment of Executive Director
The Massmart Board is pleased to announce the appointment of a new financial
director and changes to the roles of the existing executive directors.
Guy Hayward, who has been Chief Financial Officer since 2001, will assume the
role of Chief Operating Officer reporting to the Chief Executive Officer, and
will continue on the Massmart Board. The Group`s operating divisions will
report directly to him, as will shared services and employee benefits.
Guy joined Massmart in 2000.
Ilan Zwarenstein, who has been Group Finance Executive since 2006, will assume
the role of Financial Director, and will be appointed to the Board and the
Massmart Executive Committee. He will relinquish the role of Company Secretary.
Ilan joined Massmart in 2005.
Grant Pattison, the Group`s Chief Executive Officer, will focus on Massmart-
Walmart`s strategic growth priorities for South Africa and Africa, including the
implementation of the Group`s Retail Food strategy. He will remain chairman of
the Massmart Executive Committee and of all the Divisional Boards, and retains
his other responsibilities including: legal, corporate affairs, internal audit,
integration, supplier development, finance, and human capital.
Philip Sigsworth will temporarily assume the responsibilities of Company
Secretary for Massmart. Philip joined as Group Finance Manager in January 2012.
These changes are required to enable greater operational focus on achieving the
Group`s ambitious strategic plans, whilst at the same time responding to the
additional responsibilities created by the acquisition of a controlling stake in
Massmart by Walmart. They are effective from 7 May 2012.
Johannesburg
08 May 2012
Sponsor: Deutsche Securities (SA) Proprietary Limited
Date: 08/05/2012 07:41:01 Produced by the JSE SENS Department.
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