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TRT
TRT
Tourism Investment Corporation Limited - Tourvest restructures board
Tourism Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/008144/06)
Share code: TRT
ISIN: ZAE000012472
Tourvest restructures board
Johannesburg, 13 November 2006 - Tourvest has appointed three black
independent non-executive directors in a move that expands its board to 10
members and places it at the forefront of the best corporate governance and
BEE practices.
The three new independent board members are Tanya Abrahamse, former Tourism
Business Council SA executive director; Blacky Komani, former managing
director of Karell"s African Dream Vacations, an American based travel
agency, and South African Airways Holidays; and Thembi Kunene, former
commercial director of Bidfreight.
At the same time it was announced that Imperial chief executive Bill Lynch,
who wishes to relinquish some of his operational responsibilities in the
Imperial group, has resigned from the Tourvest board. Manny de Canha, an
executive director of Imperial Holdings and managing director of Associated
Motor Holdings, has been appointed to the board in his place.
CFO Jan Roesch has resigned from the board and has assumed responsibility
for Tourvest Inbound Products consequently former deputy chief financial
officer Luvhengo Neswiswi has been promoted to chief financial officer and
has joined the board.
All the above board changes are effective from 13 November 2006.
The board now consists of a non-executive chairperson (Carol Scott), four
independent non-executive directors (Philip Maisel and the three new
appointees), three executive directors (CEO Tommy Edmond, retail
merchandising division managing director Eric de Jager and CFO Luvhengo
Neswiswi) and two representatives of major shareholder Imperial: deputy
chairman Tak Hiemstra and Manny de Canha.
"With four independent non-executives, four black people and three women,
the Tourvest board now has a balance of executive and non-executive
directors, in line with the King II Report and has significantly increased
the number of black persons on the Tourvest Board, in line with the Codes
of Good Practice for Broad Based Black Economic Empowerment," Edmond
commented.
For further information call Tommy Edmond, CEO, on 011 728 0540
Issued by du Plessis Associates on behalf of Tourism Investment
Corporation.
dPA contact Helen McKane Tel : +27 11 728 4701, Fax: +27 11 728 2547,
Mobile: 082 330 2034 or e-mail: tourvest@dpapr.com
Website : www.tourvest.co.za
Sponsor: Investec Bank Limited
Date: 13/11/2006 11:00:35 AM Produced by the JSE SENS Department
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