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PRIMEDIA LIMITED - NEW BOARD APPOINTMENTS Primedia Limited 18 September 2002 INTRODUCTION The Primedia board today announced the appointment of four independent non-executive members. These appointments are a direct result of the King II review process, which was established to ensure group compliance with King II. It was also agreed that the board`s key committees would be reconstituted within the parameters of King II. BOARD CHANGES The new independent board appointments are: * Mike Bosman, at present the non-executive chairperson of advertising group FCB South Africa and of the FCB Africa region and former President and Chief Operating Officer of FCB North America; * Boni Dibate, chief executive of SA Express Airways, chairperson of the Tourism Business Council and vice-president of the Businesswomen`s Association; * Humphrey Khoza, chief executive of SA national lottery operator Uthingo and formerly chief director of communication for the Independent Electoral Commission; * Sindi Zilwa, chairperson and co-founder of accountancy firm Nkonki, a director of several companies and a member of the Competition Tribunal. The group announced further changes to the existing board with Messrs Issie Kirsh and Peter Maw becoming non-executive members. Issie is to remain Chairman of the group`s extensive social responsibility programme, Primecare, and will continue to serve on several subsidiary boards. Peter Maw is establishing his own private equity and corporate finance firm and will provide consulting services to the group and remain as a director of the groups` off shore cinema interests until disposed of. Other changes to the board include Kuben Pillay recently being appointed CEO of the group`s advertising businesses and Steve Ratlou taking an executive role at Primedia Out of Home and accordingly retiring from the board. Mineworkers Investment Company will also be appointing Tshidi Madima, an executive member of MIC, to represent them on the board. Tshidi is also an alternate director of BP South Africa and a non- executive director of Primedia Broadcasting. The board intends in due course to secure an additional independent non- executive director. THE NEW BOARD Paul Nkuna Chairman Non Executive Mike Bosman Non Executive Independent Boni Dibate Non Executive Independent Humphrey Khoza Non Executive Independent Christopher Seabrooke Non Executive Independent Sindi Zilwa Non Executive Independent Issie Kirsh Non Executive Peter Maw Non Executive Bheki Shongwe Non Executive Tshidi Madima Non Executive William Kirsh Group CEO Executive Ferdi Gazendam CEO Filmed Entertainment Executive Kuben Pillay CEO Advertising Executive Funke Ighodaro Group CFO Executive The board, which now substantively complies with King II, has a significantly larger number of non-executives than executives and nearly 60% of its members are black and over 25% are female. These new appointments will also further strengthen the mix of skills and experience required to deliver on the group`s strategy of becoming a world class South African-based media group. COMMITTEES Remuneration and nominations committee The new remuneration and nominations committee has been reconstituted to comprise four non-executive members with at least 50% black and 50% independent representation. Paul Nkuna Chairman Non Executive Boni Dibate Non Executive Independent Humphrey Khoza Non Executive Independent Christopher Seabrooke Non Executive Independent Audit committee The new audit committee has been reconstituted to comprise a minimum of three non-executive directors, two independent directors and 50% black representation. Christopher Seabrooke Chairman Non Executive Independent Peter Maw Non Executive Sindi Zilwa Non Executive Independent Tshidi Madima Non Executive Risk committee The new risk committee will be established and will comprise at least two non-executive directors. Bheki Shongwe Chairman Non Executive Mike Bosman Non Executive Independent William Kirsh Group CEO Executive Ferdi Gazendam CEO Filmed Entertainment Executive Kuben Pillay CEO Advertising Executive Funke Ighodaro Group CFO Executive Date: 18/09/2002 12:01:37 PM Produced by the JSE SENS Department
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