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GMB
GMB
Glenrand M I B Limited - Announces resignation of CEO
GLENRAND M I B LIMITED
(a Licensed Financial Services Provider)
(Incorporated in the Republic of South Africa)
(Registration number 1997/008001/06)
Share code: GMB & ISIN: ZAE000078010
("Glenrand M I B" or "the company")
JSE-listed insurance broking and benefit consulting group Glenrand M.I.B
has announced the resignation of Steve von Roretz as a director and Chief
Executive Officer with immediate effect.
Group chairman Dr Dudu Kunene has assumed the role of CEO on an interim
basis to ensure continuity in implementing group strategy.
Von Roretz, who was appointed to the position of CEO in September 2005 and
has been with Glenrand M.I.B since 1983, will continue as an employee of
the group until 31 August.
Making the announcement, Kunene thanked von Roretz for his long and loyal
service to the company and wished him the best for the future. Von Roretz
has not made known his plans once he leaves the group.
Kunene confirmed his executive support team, comprising Risk Services CEO
Andrew Chislett, Benefit Services CEO Greg Morris and Danie Meyer, who is
responsible for Finance.
He outlined a number of key strategic initiatives he has identified as
requiring his leadership and direction. These include establishing an
international linkage; addressing the already-stated issues facing Benefit
Services to ensure that the potential of the business is fully realised;
finalising implementation of strategic decisions already made in respect of
Underwriting; the role of the group in Africa; finalising acquisitions that
the group is considering in the Risk Services business; a continued focus
on transformation - an area of long-standing involvement for Kunene; and
the marketing strategy to strengthen the market positions of Risk Services
and Benefit Services.
Kunene concluded by saying, "I firmly believe in the future of Glenrand
M.I.B. We have outstanding staff and loyal clients to whom we offer
excellent service. This leadership change is an opportunity for Glenrand
M.I.B to focus on its core businesses and move forward to realise the
group"s full potential."
Ends
ISSUED FOR: GLENRAND M.I.B LIMITED
CONTACT : Dr Dudu Kunene: Michele Harpur: 011 329 1566 / 082 469
6149
FAX NO : 011 329 1410
E-MAIL : dkunene@glenrandmib.co.za
WEBSITE : www.glenrandmib.co.za
ISSUED BY : Letsema Communications
CONTACT : Tish Stewart: 011 325 4195 / 082 443 6399
FAX NO : 011 325 4199
E-MAIL : tish@letsemacom.co.za
DATE : 18 August 2006
Date: 18/08/2006 12:48:09 PM Produced by the JSE SENS Department
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