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Discovery - Management re-organisation at Discovery Holdings
Discovery Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1999/007789/06)
ISIN: ZAE000022331
Share Code: DSY
("Discovery")
NEWS RELEASE FROM DISCOVERY HOLDINGS
29 November 2005
Management re-organisation at Discovery Holdings
Discovery Holdings is to implement a number of key changes to its senior
management structure, effective from 1 January 2006.
These changes reflect the phenomenal growth of Discovery both within the
existing businesses and due to the start-up of our new ventures. Discovery is
realigning its key senior people to position it for the future.
The changes also include moves to modernise Discovery"s leadership titles in
line with international practice, for instance moving away from the title
managing director to CEO in respect of Discovery"s individual businesses.
The following changes are being made:
- Barry Swartzberg, Managing director of Discovery Health, will move into
Discovery Holdings as Executive Director. He will co-ordinate many of the
Group-wide functions including People and Finance, and will assist
Discovery Holdings CEO Adrian Gore in co-ordinating and leading our growing
international operations. With the US and UK businesses and the explicit
strategy of performing as many of the back office functions in South Africa
as possible, it is necessary to create a central leadership role that co-
ordinates it all and ensures the optimum use of infrastructure and the
migration of best practice across both of the offshore businesses.
- John Robertson, currently group wide COO, will move into Discovery Holdings
as Group CIO and will also be responsible at a Holdings level for the
infrastructural aspects of international operations.
- Neville Koopowitz, currently Group Marketing Director and Managing director
of Vitality, will take over the leadership of Discovery Health, and will
become the CEO of Discovery Health.
- Hylton Kallner, currently General Manager, Special Projects, will replace
Neville and will assume all accountabilities for the organisation"s
marketing and distribution functions, and will become General Manager,
Marketing and Distribution.
- Alan Pollard will become the CEO of Vitality. He will maintain his role as
head of research and development within Discovery Health. Given the
intimate interplay between Health and Vitality, Discovery believes that
this structure will maximise its capabilities.
- Khalik Mayet, currently responsible for regulatory and corporate
development, will be now taking on the responsibility for DiscoveryCard and
will report to Alan Pollard.
- Herschel Mayers will change his title from Managing Director to CEO of
Discovery Life.
- Trent Rossini, currently GM of PruHealth Operations will become COO of all
local functions that support Discovery"s international operations in the US
and the UK, reporting to John Robertson.
All other senior executives will continue in their current positions.
According to CEO Adrian Gore, after the management changes, Discovery remains a
matrix structured organisation, but one that is cleaner and more focused and one
that will maximise focus and entrepreneurship within each business.
"Discovery has never been an organisation that works on a strict hierarchy and
the structure has, by design, always attempted to facilitate the free flow of
skills and ideas between the businesses," says Gore. "The new structure will
free up each of the businesses to compete and win in the markets in which they
operate. It will also facilitate our integration strategy and allow for best
practice and efficiency to flow across the group."
Prepared by : Beachhead Media and Investor Relations
Patrick Lawlor (011) 214 2410 / 082 459 6709 /
Patrick@bmsa.co.za
On behalf of : Discovery Holdings
Contact : Adrian Gore, CEO, Discovery Holdings (011) 529 2800
29 November 2005
Sandton
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 29/11/2005 05:16:06 PM Produced by the JSE SENS Department
