AFE - AECI limited - Changes to the board of directors Release Date: 06/12/2007 15:00:02 Code(s): AFE
AFE - AECI limited - Changes to the board of directors
(Incorporated in the Republic of South Africa)
(Registration number. 1924/002590/06)
Share code: AFE ISIN No. ZAE000000220
("AECI" or "the Company")
CHANGES TO THE BOARD OF DIRECTORS
Schalk Engelbrecht has advised the Board of directors of AECI ("the Board") that
he will retire from his position as chief executive of the Company on 1 March
2008, at which time he will have reached his full retirement age.
The Board acknowledges the invaluable input that Schalk has made to the
Company`s businesses and its Board since his appointment as chief executive in
April 2003. His leadership in continuing to position AECI as a world class
provider of chemical-based specialty products and services, particularly to the
mining and manufacturing industries, has been exemplary.
AECI is pleased to announce that Dr G N (Graham) Edwards (53) will succeed
Schalk as chief executive of AECI, with effect from 1 March 2008.
Graham is currently managing director of African Explosives Limited (AEL), which
position he has held since 1999. He has led the current transformation process
to entrench AEL`s position as a world-leading supplier of cost-effective,
quality and safety-enhanced explosives and initiating systems through automation
Graham joined AECI in 1978 as a design engineer and, prior to taking up his
position as managing director of AEL, he worked in several positions in the
production, engineering, buying and strategic planning fields. He joined the
Board of AECI in an executive capacity in January 2007. He is also a member of
the Company`s executive committee, a non-executive director of Chemical Services
Limited and chairman of the DetNet joint venture.
His fellow AECI directors and all his AECI colleagues congratulate him on his
Graham`s successor at AEL will be named in due course.
6 December 2007
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 06/12/2007 15:00:01 Supplied by www.sharenet.co.za
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