| Wed 9 Oct 2002, 17:29 | | Nedcor Limited - Changes To The Board Of Directors |
|
Nedcor Limited - Changes to the Board of Directors
9 October 2002
Changes to Nedcor board of directors
Nedcor Ltd today is pleased to announce changes to its board of directors. The
changes follow from the recent merger with BoE Ltd and the associated group
restructuring including the delisting of Nedcor Investment Bank Holdings Ltd
(NIB).
The following directors are appointed as executive directors with effect 1
November 2002:
Dr I J Botha, aged 52, DCom, Chief Executive of Nedcor Investment Bank Holdings
Limited
T A Boardman, aged 52, BComm, CA(SA), Chief Executive of BoE Limited and BoE
Bank Limited
The following directors are appointed as independent non-executive directors
with effect 1 November 2002:
C J W Ball, aged 62, Dip Iuris, MA, director of BoE Limited, BoE Bank Limited,
PG Bison Limited and Premier Foods Limited
C M L Savage, aged 63, BSc, MBA, ISMP, Chairman of The Tongaat-Hulett Group
Limited and director of AECI Limited, African Rainbow Minerals Gold Limited, BoE
Limited, BoE Bank Limited, Delta Motor Corporation (Pty) Limited, Datatec
Limited, and Kumba Resources Limited
The following directors resign with effect 1 November 2002:
P T W Curtis, upon reaching retirement age
E Molobi, who will join the board of Peoples Bank Limited
C C Parker, after 12 years
G S van Niekerk, who will join the boards of Peoples Bank Limited and Imperial
Bank Limited
Dr W P Venter, after 22 years
Nedcor extends its gratitude for the service rendered by the outgoing directors
and welcomes the new directors to its board.
Nedcor also announces the appointment of Prof M M Katz to the newly created
position of vice-chairman, an executive position.
As announced on 8 July 2002, the organisational restructure following the merger
with BoE has resulted in a reshuffle of executive portfolios. The executive
directors and their portfolios are:
Richard Laubscher - Chief Executive
Michael Katz - Advisory Activities
Tom Boardman - Retail Divisions / Wealth Management
Izak Botha - Capital & Integration
Barry Hore - Technology & Operations
Stuart Morris - Finance Director
Derek Muller - Corporate Divisions
Lot Ndlovu - Peoples Bank
Tony Routledge - Strategy
Four additional designate members of the board are: Barry Davison (ex NIB), Nick
Dennis (ex NIB), Brian Figaji (ex Cape of Good Hope Bank) and Phuthuma Nhleko
(ex NIB). These appointments will be effective after completion of the required
regulatory procedures.
The full list of non-executive directors will be:
Chris Liebenberg (chairman)
Peter Joubert (deputy chairman)
Chris Ball*
Warren Clewlow
Barry Davison*
Nick Dennis*
Brian Figaji*
Mike Levett
J.B. Magwaza*
Mafika Mkwanazi*
Phuthuma Nhleko*
Hixonia Nyasulu*
Julian Roberts
Cedric Savage*
Jim Sutcliffe
* = Independent non-executive directors
Non-executive director Warren Clewlow will replace Peter Joubert as both deputy
chairman and the chairman of the audit committee on Joubert`s retirement in
2003.
Also at the board committee level, non-executive director Mafika Mkwanazi will
replace Warren Clewlow as chairman of the Strategic Innovation Management
committee. Non-executive director Nick Dennis takes over from J.B. Magwaza as
chairman of the Remuneration Committee. As previously announced, J.B. Magwaza
will become the new chairman of Peoples Bank while remaining a director of
Nedcor.
Issued by Nedcor Ltd
Contact: Nedcor Investor Relations
Ewald Mller
+ 27 11 294 9027
083 255 9595
ewaldm@nedcor.com
Date: 09/10/2002 04:58:03 PM Produced by the JSE SENS Department
