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IPL
IPL
Imperial Holdings Limited - Changes In Executive Management Responsibilities
Imperial Holdings Limited
Registration number: 1946/021048/06
Share code: IPL
ISIN: ZAE000067211
("Imperial" or "the group")
CHANGES IN EXECUTIVE MANAGEMENT RESPONSIBILITIES
In compliance with the Listings Requirements of the JSE Limited the following
information is provided:
After 27 years with the Imperial group, Carol Scott has decided to relinquish
her executive position. She will remain a director of Imperial Holdings in a
non-executive capacity, as well as non-executive chairman of the Car Rental and
Tourism division, and of Tourvest Limited.
Imperial would like to thank Carol for her hard work, commitment and dedication
to the group during her long career with Imperial. Carol was the first employee
of Imperial Car Rental which commenced business in a small office in our motor
showroom in Commissioner Street in January 1979. Under her stewardship, the
business spawned many fine businesses which now comprise the Car Rental and
Tourism division with revenues in excess of R3.1 billion and operating profits
of R495 million. These achievements bear testimony to Carol"s acumen and the
quality of the team she has built up. Her contribution to the success of
Imperial over the past three decades has been immeasurable.
Imperial will be fortunate to maintain a close relationship with Carol in the
years ahead.
Imperial is pleased to announce that Osman Arbee, a member of Imperial"s
executive committee, will succeed Carol as the CEO of the Car Rental and Tourism
division. Osman Arbee will remain a board member of Ukhamba Holdings, its
associate company, Dawn Limited and Imperial Bank.
Tak Hiemstra, Imperial executive director for strategic planning, will join the
board of Tourvest as Deputy Chairman, and the board of Ukhamba as non-executive
director, with particular involvement in its acquisitions and investment
activities. Osman Arbee will at the same time resign from the Tourvest board.
All changes will be effective from 30 June 2006.
After implementation of the changes, the board will be constituted as follows:
Executive Directors Non-executive Directors
WG Lynch (Chief Executive) L Boyd (Chairman)
RJ Boettger E Molobi (Deputy Chairman)
MP de Canha PL Erasmus
RL Hiemstra P Langeni
AH Mahomed MJ Leeming
GW Riemann JR McAlpine
VJ Mokoena
PS Molefe
MV Moosa
CE Scott
MV Sisulu
A Tugendhaft
Y Waja
Company Secretary
RA Venter
By order of the Board
12 May 2006
BEDFORDVIEW
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 12/05/2006 12:45:23 PM Produced by the JSE SENS Department
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