Intervid Limited
(Incorporated in the Republic of South Africa)
(Registration number 1999/011483/06)
Share code: ITV
ISIN : ZAE000025615
("Intervid")
CHIEF EXECUTIVE OFFICER RETIRES
It is with a sense of regret that Intervid announces that CEO, Rob Howard,
has retired, both as Chief Executive Officer and as an Executive Director of
the company. At a Board meeting held on Tuesday 29 January 2002, Rob
announced that, after 12 years, he felt it was time to make way for the next
generation, and that he intended to spend more time concentrating on and
developing other personal interests. Rob was invited to and has agreed to
continue his service on the Intervid Board as non-executive Deputy Chairman,
so his considerable experience and expertise will not be lost to the
company.
In thanking Rob, Chairman of Intervid, Bill Lambert, said "This is the end
of the initial era of Intervid, with the company having been founded 12
years ago by Rob. He has been instrumental in the development of Intervid
from a small family concern to a significant international operation,
trading in seven countries. On behalf of the Board and Management I pay the
highest possible tribute to Robin and wish both he and his wife, Connie,
much happiness as they enter a new phase in their lives."
This decision is with immediate effect, and is in no way related to the
cautionary announcement released by Intervid on 22 November 2001 and renewed
on 16 January 2002.
Managing Director, Rob le Sueur, was appointed Chief Executive Officer with
immediate effect.
OTHER CHANGES TO THE BOARD
In addition, the resignation of the Alternate Director representing VenFin
Limited, Mr Mark Hancock (alternate to Mr Jannie Durand), was accepted. Mr
Hancock will be replaced by Mr Mark Taylor of VenFin with immediate effect.
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