CORONATION HOLDINGS LIMITED
"Coronation"
Share code : CRH
ISIN : ZAE000001772
Changes to the Board of Directors
The following changes to the Coronation Board, effective from 01 October
2001, are announced:
In accordance with the King Report on Corporate Governance for South Africa,
Coronation has elected to have a Board Chairman appointed from the
independent non-executive directors and will continue with the practice of
separating the role of Chairman and Chief Executive.
Mr Colin Brayshaw will therefore become the non-executive Chairman
succeeding Mr Gavan Ryan who has been Chairman since 1993. Mr Ryan will
henceforth serve as an executive director of Coronation continuing with his
focus on Corporate Finance, Investment Banking and Business Development
activities.
Mr Brayshaw has served on the Board of Coronation since 1997 and is also a
director of, inter alia, AECI Ltd, Anglo American Platinum Corporation Ltd,
Anglogold Ltd, Highveld Steel and Vanadium Corp. Ltd, The Industrial
Development Corporation of S.A. Ltd and Johnnic Holdings Ltd.
Mr Gavin Tipper will join the Board as Chief Operating Officer. Mr Tipper
will be responsible for the development, monitoring and maintenance of the
group operations and will, together with Mr David Barnes, The Chief
Executive Officer, be responsible for the Coronation Group.
Mr Tipper has been a partner of KPMG in Johannesburg since 1996, and has
been part of their Financial Services Group.
3. Professor Alexandra Watson will join the Board as an independent non-
executive director. Professor Watson is an Associate Professor of Accounting
at the University of Cape Town. She is the co-author of "Generally Accepted
Accounting Practice - A South African Viewpoint".
4. From 01 October 2001 the Coronation Board will, therefore, be constituted
as follows:
Mr Colin Brayshaw (Chairman)*
Mr David Barnes (Chief Executive)
Mr Gavin Tipper (Chief Operating Officer)
Mr Leon Campher*
Mr Malcolm Rutherford*
Mr Gavan Ryan
Mrs Alexandra Watson*
* Non-executive directors
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