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IPL
IPL
Imperial Holdings Limited - Changes to the Board and Executive Responsibilities
Imperial Holdings Limited
Registration number: 1946/021048/06
Share code: IPL
ISIN: ZAE000067211
("Imperial" or "the group")
CHANGES TO THE BOARD AND EXECUTIVE RESPONSIBILITIES
In compliance with the Listings Requirements of the JSE Limited the following
information is provided:
The growth of the Imperial group has led to a significant increase in the areas
of operation and responsibilities of the Executive management and divisional
boards, overseen by the group Chief Executive, Bill Lynch. Bill has recently
undergone surgery. He has recovered well and has returned to work after a short
absence. In order to enhance the efficiency of the group"s operations under the
direction of Bill, and to enable Bill to continue devoting his attention to
growth opportunities and the larger strategic issues affecting the group, the
areas of responsibility of the Executive Committee are being strengthened.
Imperial is therefore, pleased to announce that:
Hafiz Mahomed, the Group Financial Director, has been appointed Deputy Chief
Executive in addition to his current responsibilities. He will also become
Deputy Chairman of the Executive Committee, a position which was recently
vacated by Carol Scott who stepped down from her executive responsibilities in
the group at the end of June.
The following members of the Executive Committee will be appointed as executive
directors of Imperial:
Hubert Rene Brody
Walter Stanley Hill
(A brief curriculum vitae for each of the new appointees is to be found at the
end of this announcement)
A number of subsidiary and divisional boards will also be reconstituted to
strengthen these boards in keeping with the group"s decentralised management
philosophy. Governance will hereby be enhanced by ensuring adequate
representation of executive directors on these boards. Accordingly, Hubert
Brody will join the boards of the motor related divisions, Insurance as chairman
and Car Rental and Tourism as deputy chairman. He will also relinquish his
position as CEO of the Motor Dealerships division to Philip Michaux, whilst
remaining chairman of that division.
The remaining operational responsibilities of Executive Committee members will
be unchanged.
The abovementioned changes will be effective immediately.
After implementation of the above changes, the board will be constituted as
follows:
Non-executive Directors
L Boyd (Chairman)
PL Erasmus
P Langeni
MJ Leeming
JR McAlpine
VJ Mokoena
PS Molefe
MV Moosa
CE Scott
MV Sisulu
RJA Sparks
A Tugendhaft
Y Waja
Executive Directors
WG Lynch Chief Executive
AH Mahomed Deputy Chief Executive and Group Financial Director
RJ Boettger Responsible for Logistics, Aviation, Tyco, Lectrolite and
Imperial Commercials UK
HR Brody Responsible for the Motor, Car Rental and Tourism and Insurance
divisions as well as Imperial Multipart UK
MP de Canha Responsible for Associated Motor Holdings
RL Hiemstra Responsible for group strategy, investor relations, Ukhamba and
Tourvest
WS Hill Responsible for the Leasing and Fleet Management division
GW Riemann Responsible for International Logistics
Curricula Vitae
Hafiz Mahomed (55) BCompt (Hons), CA (SA), H Dip Tax
Hafiz is the Group Financial Director. He joined the group as financial manager
in 1982 and was appointed to the board in March 1989.
Hubert Brody (42) BAcc (Hons), CA (SA)
Hubert joined the group in April 2000 as chief financial officer of Imperial
Bank. He was appointed as chief executive of the Motor Division in July 2003 and
to the executive committee in March 2004.
Walter Hill (47) HN Dip (Ind Eng), AEP
Walter is the chief executive of the Leasing and Fleet Management Division. He
joined the Group in 1998 as Managing Director of Imperial Fleet Services and was
appointed to the executive committee in November 2002.
Company Secretary
RA Venter
By order of the Board
30 August 2006
BEDFORDVIEW
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 30/08/2006 07:02:04 AM Produced by the JSE SENS Department
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