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PROMINENT MEMBERS APPOINTED TO PSG TOP STRUCTURE

Release Date: 15/09/1999 12:07
Code(s): PSG
Wrap Text

STELLENBOSCH-BASED PSG GROUP HAS ANNOUNCED THE APPOINTMENT TO ITS BOARD OF TWO PROMINENT BUSINESSMEN, ANDRE LE GRANGE (49) AND MICHIEL LE ROUX (50), AS WELL AS STEPS TO FURTHER STRENGTHEN GOOD CORPORATE GOVERNANCE.
LA GRANGE, WHO HAS MANY YEARS EXPERIENCE IN BANKING AND GENERAL MANAGEMENT, IS GROUP CEO OF PSG INVESTMENT BANK HOLDINGS, THE GROUP'S LISTED BANK HOLDING SUBSIDIARY. LE ROUX, WHO HAS EXTENSIVE EXPERIENCE IN MARKETING AND BANKING, IS CHAIRMAN AND CEO OF THE RECENTLY FORMED KEYNES RATIONAL LTD, A SUBSIDIARY OF PSG CONSISTING OF PSG ANCHOR LIFE AND PSG SPECIALISED LENDING.
MARTUS CLAASSEN WAS APPOINTED TO THE PSG BOARD AS ALTERNATE DIRECTOR TO JAAP DU TOIT, CEO OF PSG INVESTMENT SERVICES.
IN ORDER TO FURTHER STRENGTHEN ITS CORPORATE GOVERNANCE, ADV FRAN DU PLESSIS WAS APPOINTED AS INDEPENDENT CHAIRMAN OF THE GROUP'S REMUNERATION COMMITTEE WITH THE SPECIFIC BRIEF TO ESTABLISH AND MONITOR THE REMUNERATION AND
INCENTIVES OF SENIOR EXECUTIVES. SHE WILL PERFORM THE SAME FUNCTION FOR THE GROUP'S MAJOR SUBSIDIARIES.
DR JACOBUS VAN ZYL SMIT (58) WAS AT THE SAME TIME RE-ELECTED INDEPENDENT CHAIRMAN OF PSG GROUP'S AUDIT COMMITTEE, A POSITION HE ALSO HOLDS IN THE GROUP'S MAJOR SUBSIDIARIES. BOTH THE REMUNERATION AND AUDIT COMMITTEES SHALL REPORT INDEPENDENTLY TO SHAREHOLDERS IN THE GROUP'S ANNUAL REPORT AS WELL AS AT THE AGM. END
ISSUED BY : DE KOCK & KERKHOFF COMMUNICATION CONSULTANTS ON BEHALF OF : PSG GROUP DATE : WEDNESDAY, SEPTEMBER 15, 1999
INQUIRIES : GERHARD CLOETE, DEK&K (021) 424-5280
: JANNIE MOUTON, PSG (021) 887-9602

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