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SAIL GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1941/014601/06)
("SAIL" or "the Company")
Share code: SIR ISIN code: ZAE000039962
NATHAN TAKES THE HELM AT SAIL
SAIL Group Limited, South Africa`s leading sports business, today announced the
appointment of Selwyn Nathan as Group Chief Executive, with immediate effect.
Nathan, the former head of SAIL`s subsidiary SAIL Sport and Entertainment, takes
over the day-to-day running of the business from Nic van Gass, following a
restructuring of the group. Van Gass will focus on the strategic growth and
corporate finance of the group and has been appointed Executive Director in the
Chairman`s office.
Announcing the appointments, Barney Esterhuyzen, Chairman of SAIL Group said:
"Selwyn is a seasoned sports business entrepreneur of international stature. He
has proven himself within SAIL as a strong effective leader and his energy is
exactly what SAIL needs right now to run efficiently and deliver to our full
potential. This gives me the opportunity to focus on taking the group
strategically to the next level, knowing that the business operations are in
good hands."
"Nic has played a key role in successfully building the group to where it is
today. His skills and experience will be invaluable in taking our business to
the next level. Nic`s steady hand will support and guide the group through the
challenges SAIL will be facing in achieving our strategic growth objectives."
Commenting on the appointment, Nic van Gass said: "SAIL was initially
structured as a sports investment company at listing and its way of life was
centred around an approach of managing and adding value to investments. The
landscape has changed and for SAIL to achieve exceptional growth, it needs to
change the rules related to what it does and how it conducts business."
"Selwyn has been in the business for 28 years - and there are very few people
around today who can match his experience in the sports business industry."
Nathan described the restructuring as an exciting new era that will see SAIL
operate as a seamless business, utilising the combined skills and strengths of
its people.
"I am excited about the opportunity, but well aware of the challenges ahead. The
rules of engagement internally and externally will have to change. Internally,
the structures will be simplified in order to dispose of the unnecessary
complexities in the group. These changes will not be cosmetic. I am excited
that this new position will enable me to be directly involved in the day-to-day
operations of one of the most challenging sports business organisations in the
world. I believe that a talented group of individuals is already in place at
SAIL and I am especially enthusiastic about the prospect of leading the team."
Selwyn went on to comment.
Nathan started working life as a golf professional, before turning his hand at
structuring, developing and running the original Sunshine Tour. In the 80`s he
took on the role of joint Managing Director of Showtime International, the
independent company that managed Sun International`s big promotional events.
Nathan was tournament co-ordinator for the Million Dollar Golf Challenge for
five years before taking up the position of MD of AA Racing. Nathan set up
Vodacom Sport and Entertainment in 1997 and has been an integral part of the
success story of SAIL Sport & Entertainment`s sponsorship and event management
business.
Ends
5 FEBRUARY 2003
For more information or photographs contact:
Cindy Joughin
Tel: +27 11 700 3600
Mobile: 082 4515 773
Email: cindyj@sail.co.za
Date: 05/02/2003 12:06:29 PM Produced by the JSE SENS Department
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