NEDCOR LIMITED - RESIGNATION OF GROUP HUMAN RESOURCES DIRECTOR
NEDCOR LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
ISIN code: ZAE000004875
(`Nedcor`)
RESIGNATION OF GROUP HUMAN RESOURCES DIRECTOR
Ivan Mzimela, group human resources director of Nedcor, has resigned from the
group with effect from 31 December 2004.
Mzimela has accepted an appointment as human resources director at the Tsogo Sun
Group. Mzimela`s decision to leave the financial services industry was based on
his interest in future black economic empowerment transactions within the hotel,
gaming and entertainment industry.
Mzimela joined Nedcor in 1998 as an assistant general manager and three years
later was promoted to general manager, responsible for human resources strategy
and transformation. He was promoted to director of group human resources in
December 2002 and appointed to the Nedcor group executive committee in November
2003.
Nedcor chief executive, Tom Boardman, said the group was sorry to lose someone
of Mzimela`s calibre. `This is clearly a decision that Ivan has not taken
lightly. Efforts were made to retain him in the group but unfortunately he has
identified a greater opportunity for himself outside of Nedcor and we wish him
every success in his new position. Ivan has kindly undertaken to assist us with
sourcing and identifying a successor,` said Boardman.
The selection process for the appointment of the new human resources director
has already commenced. Derek Muller will assume responsibility as acting human
resources director until the appointment has been finalised.
Sandton
19 January 2005
For further information contact
Tier 1 Investor Relations
Tel: +27 (0)21 702-3102
Sponsors
Merrill Lynch South Africa (Pty) Ltd
Nedbank Capital
Date: 19/01/2005 03:24:25 PM
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