AVI - AVI Limited - Change to the Board of directors (the Board)
AVI
AVI
AVI - AVI Limited - Change to the Board of directors ("the Board")
AVI Limited
(Incorporated in South Africa)
(Registration number: 1944/017201/06)
ISIN Code: ZAE000049433
JSE Code: AVI
("AVI" or "the Group" or "the Company" )
Change to the Board of directors ("the Board")
Shareholders in AVI are advised that Mr Angus Band, the independent non-
executive chairman of the Board, has indicated that he will retire from his
position at the Company`s next annual general meeting which is scheduled for
Friday, 2nd November 2012.
In order to ensure an orderly transition it has been decided by the Board that,
with effect from 1 July 2012, Mr Gavin Tipper, currently an independent non-
executive director, will be appointed as the chairman. Mr Band will remain on
the Board until the 2nd November 2012.
Mr Tipper completed his articles with KPMG in 1987. He went on to hold the
position of Technical Partner at the firm before joining Coronation Holdings Ltd
in 2001 as Chief Operating Officer which position he also held in its successor
company Coronation Investments and Trading Ltd. Gavin was appointed to the AVI
Board during March 2007 where he also serves as a member of the audit committee
and Chairman of the remuneration committee. He also serves on a number of other
boards
Mr Band joined the Board in 1997 as an executive director and was appointed
Chief Executive Officer of National Brands Limited in 1998. He became AVI`s
Group Chief Executive Officer in 1999 and served in this role until 2005, when
he stepped down and moved into the role of non-executive Chairman. The Board
wishes to express its sincere gratitude to Mr Band for his outstanding 16 years
of service to AVI and vital contribution to AVI`s success.
15 June 2012
Illovo, Johannesburg
Sponsor: The Standard Bank of South Africa Limited
For enquiries: Simon Crutchley (011) 502-1322; Owen Cressey (011) 502-1323
Date: 15/06/2012 15:40:01 Produced by the JSE SENS Department.
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