AFE - AECI Limited - Changes To The Board Of Directors And Senior Management Release Date: 08/02/2008 08:30:01 Code(s): AFE
AFE - AECI Limited - Changes To The Board Of Directors And Senior Management
Incorporated in the Republic of South Africa
(Registration No. 1924/002590/06)
("AECI" or "the Company")
Share code: AFE & ISIN No. ZAE000000220
CHANGES TO THE BOARD OF DIRECTORS AND SENIOR MANAGEMENT
Shareholders are referred to the announcement released on the Securities
Exchange News Service of the JSE Limited on 6 December 2007, notifying that Mr
Schalk Engelbrecht would retire from his position as chief executive of the
Company on 1 March 2008.
AECI is pleased to announce that Mr Engelbrecht has agreed to continue serving
on the Board of AECI Limited in a non-executive capacity after his retirement
In that same announcement, shareholders were advised that Dr Graham Edwards,
currently managing director of African Explosives Limited (AEL), will take over
as chief executive of AECI on 1 March 2008.
Mr Tobie Louw (45) has been appointed to succeed Dr Edwards at AEL, with effect
from 1 April 2008. He will also join AECI`s executive committee at that time.
Mr Louw is currently an executive director of AECI`s Chemical Services Limited
(Chemserve), a member of Chemserve`s executive committee and managing director
of Chemserve Systems, a wholly-owned subsidiary.
He joined AECI via AEL, in 1988, after having completed a BSc (Eng) degree. He
left in 1996, returning to Chemserve in 2000 to take up the position of managing
director of Lake International Technologies. In 2005, he was appointed to
Chemserve`s executive committee with a portfolio of chairmanships in that group,
in addition to his position at Chemserve Systems.
He joined the Chemserve board in 2007.
Sandton, 8 February 2008
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 08/02/2008 08:30:01 Supplied by www.sharenet.co.za
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