Nedbank Group Limited - Resignation Of Nolitha Fakude
NEDBANK GROUP LIMITED
(formerly Nedcor Limited)
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
ISIN: ZAE000004875
(`Nedbank Group` or `the group`)
Nolitha Fakude, the head of group strategy and corporate affairs of Nedbank
Group, has resigned from the group with effect from 30 September 2005.
Fakude has accepted a position as executive director of human resources and
strategy at Sasol Limited.
Nedbank Group chief executive, Tom Boardman, said Fakude has played a leading
role in guiding transformation across the business, as well as developing the
group strategy and corporate affairs portfolio. `Nolitha`s decision to leave is
motivated by her desire to champion transformation on a broader scale within the
South African economy. Her departure is a loss to the group.`
Boardman said he was committed to replacing Fakude with a black female candidate
to ensure that the executive team continued to reflect the changing demographic
profile within the group. `The process of identifying a successor has already
started and Nolitha will assist the group in making this key appointment over
the next two months.`
Fakude said she was encouraged by the fundamental changes that have taken place
within the Nedbank Group during the past 18 months. `The group has made marked
progress on several fronts on its journey towards transformation, with the
recent black empowerment transaction being a milestone in the transfer of real
economic benefits to black stakeholders. I believe that the executive team will
continue to drive transformation with as much vigour and commitment as they have
in the past.`
Sandton
26 July 2005
For further information kindly contact
Tier 1 Investor Relations
Tel: +27 (0)21 702 3102
Sponsors
Merrill Lynch South Africa (Pty) Limited
Nedbank Capital
Date: 26/07/2005 12:00:03 PM
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