| Thu 12 May 2005, 14:13 | | Massmart - Senior Executive Appointments |
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Massmart - Senior Executive Appointments
Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1940/014066/06)
(Share code: MSM)
(ISIN: ZAE000029534)
(`Massmart` or `the Group`)
SENIOR EXECUTIVE APPOINTMENTS
Introduction
Arising from the past and planned growth of Massmart and the imperative to
sustain the focus and leadership ethos that has ensured our progress to date, it
has become necessary to restructure and expand the Group`s senior executive
leadership.
The following appointments will be effective from 1st July 2005, but this
announcement is being made now to facilitate a smooth transition of roles.
Appointment of Massmart Deputy Chief Executive Officer
It is with pleasure that we announce the appointment of Group Commercial
Director and Executive Committee member, Mr. Grant Pattison, to the newly
created position of Deputy Chief Executive Officer.
Continuing to report to Deputy Chairman and Chief Executive Officer Mr. Mark
Lamberti, Grant will retain, and in due course add to, his current
responsibilities with a view to assisting with the strategic and operating
leadership of the Group.
Grant obtained a Bachelor of Science with honours in electrical engineering and
after four years with the Anglo American group and two years consulting with
Monitor, joined Massmart in 1998 as Executive Assistant to the CEO. Since then
he has been responsible for a number of important initiatives in the Group
including: the strategic positioning of Massmart`s cellular activities; research
and analysis that culminated in the successful rationalisation of the Game and
Dion chains; and the implementation of the Group`s `Channel` strategy. In
addition, as managing director of Massdiscounters he was responsible for that
divisions excellent performance over three years prior to assuming the role of
Group Commercial Executive where in addition to the tasks for which the position
was created, his leadership intervention as managing director of Masstrade
ensured that Shield and Furnex are now positioned for improved performance.
Having served on all of the divisional boards, Grant is well known to executives
and senior management throughout Massmart.
Appointment of Massmart Chief Operating Officer
It is an equal pleasure to announce the appointment of Executive Committee
member and Massdiscounters managing director, Mr. Fanus Nothnagel to the
position of Chief Operating Officer. His appointment to the Massmart board will
be proposed at its May meeting.
Continuing to report directly to the Deputy Chairman and Chief Executive, Fanus
will retain, and in due course add to, his current responsibilities with a view
to increasing his executive and operating influence over other parts of the
Group. As a first step in this direction he will be appointed to the Makro
board with immediate effect and the newly appointed Makro Divisional CEO (see
below) will report to him when Mr Joe Owens relinquishes that position to focus
on Massmart`s DIY and home improvement assets on the 30th June 2005. (Further
announcements regarding the latter will be made dependent upon the Competitions
Commissions ruling on the Delarey, Federated Timbers and Servistar
acquisitions.)
Fanus`s early career was spent with the Unilever and South African Breweries
groups, where after he joined the SC Johnson Group, serving as financial
director of the South African division, followed for three years by marketing
and sales positions in the United States, returning to South Africa as managing
director and ending his career with that group in the position of General
Manager of SC Johnson in sub-Saharan Africa. In 2003 Fanus joined Massmart as
managing director of Massdiscounters where his focused leadership has resulted
in that division achieving results comparable to the worlds leading general
merchandise discounters. In December 2004 his responsibilities were extended to
include the Chairmanship of Massmart`s General Merchandise Forum. In addition
to numerous high level executive development programmes, Fanus` formal education
includes a Bachelor of Commerce degree and a Diploma in Management Accounting.
He is an Associate Chartered Management Accountant.
Appointment of Executive Committee Members
Divisional CEO of Makro
Reporting to Massmart COO Fanus Nothnagel, a senior executive has been appointed
as Divisional CEO of Makro and a member of the Massmart Executive Committee, to
commence employment during July 2005. A detailed announcement in this regard
will be made shortly
Divisional CEO Designate
Reporting to Massmart Deputy CEO Grant Pattison, Mr Richard Potash (31) will
join Massmart as Divisional CEO Designate and a member of the Massmart Executive
Committee on 1st June 2005, when he will initially assume responsibility for
Shield, Furnex and Cellshack.
From 1992 to 1996 Richard obtained the degrees of Bachelor of Business Science
and Master of Commerce at the University of Cape Town where after he joined
Standard Corporate and Merchant Bank becoming involved in import and export
trade finance. In 1998 he joined ABSA where he extended his expertise to
agricultural commodity trading and credit, interfacing extensively with the
farming community. This led to his appointment in 2000 as Managing Director of
the Afgri Capital Division where he led a large team involved in providing
funding, crop insurance, credit, new product development and grain trading to
the agricultural community.
Conclusion
We are confident that these appointments will enhance the quality, depth and
structure of the Group`s senior executive management, providing the leadership
demanded by Massmart`s stakeholders.
12 May 2005
Johannesburg
Sponsor to Massmart:
Deutsche Securities (SA) (Proprietary) Limited
Date: 12/05/2005 12:53:16 PM
Produced by the JSE SENS Department
