Phumelela Gaming and Leisure Limited - Phumelela Ceo Appointment
Phumelela Gaming and Leisure Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/016610/06)
Share code: PHM ISIN: ZAE000039269
ANNOUNCEMENT- PHUMELELA CEO APPOINTMENT
Peter Malungani, Chairman of Phumelela Gaming and Leisure Limited, today
announced that Brian Mehl, Chief Executive of Phumelela since its inception in
April 1999, will be stepping down as CEO. Mehl had undertaken to guide the
company through the first years of its listing on the JSE, which he has
successfully accomplished. He has built a strong executive management team which
is now fully able to assume further responsibility.
In the mid nineties Mehl chaired the Gauteng Racing Industry`s negotiating team,
which concluded an MOU with the Gauteng Provincial Government, leading to the
merger of all the business interests of the Highveld, Free State, Eastern Cape
and Northern Cape racing clubs and totalizators, as well as the totalizators
operating in the provinces of Mpumalanga, Limpopo and North West. He was
appointed one of racing`s three representatives to the Interim Board to oversee
the restructuring and corporatisation of the racing clubs. He took on the role
of CEO of Phumelela and under his leadership, Phumelela became financially
viable and was listed on the JSE in June 2002. Phumelela has expanded its
betting activities to incorporate sports betting and fixed odds betting, and
Mehl was instrumental in developing its burgeoning global interests.
Through a close working relationship with Gold Circle, a commingling agreement
was concluded effectively creating a national tote (Saftote).
These initiatives have laid a solid platform for future growth and development.
Mehl has been appointed Deputy Chairman of the Board and will retain executive
responsibility for the continued development of Phumelela`s international
interests.
Jim Tennant who joined the company as Finance Director in late 1999 and has been
actively involved in the corporatisation, restructuring and listing of
Phumelela, will take up the position of CEO and will be assisted by David
Attenborough the recently appointed COO.
Sandton
16 March 2005
Sponsor
Investec Bank Limited
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