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CONRAD STRAUSS TO RETIRE - DEREK COOPER TO BECOME STANBIC CHAIRMAN

Release Date: 01/11/2000 15:34
Code(s): SBK SBKP
Wrap Text
STANDARD BANK INVESTMENT CORPORATION
  (INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
  (REGISTRATION NUMBER 1969/017128/06)
  ("STANBIC")

THE CHAIRMAN OF STANBIC AND THE STANDARD BANK OF SOUTH AFRICA LTD (SBSA), CONRAD STRAUSS, HAS DECIDED TO STEP DOWN AS CHAIRMAN OF BOTH BOARDS AND OTHER GROUP COMPANIES ON 31 DECEMBER 2000. HE WILL REMAIN A MEMBER OF THE BOARDS OF STANBIC, SBSA, LIBERTY GROUP LTD AND LIBERTY HOLDINGS LTD.
STRAUSS WILL BE SUCCEEDED AS CHAIRMAN OF STANBIC AND SBSA BY DEREK COOPER, CURRENTLY JOINT DEPUTY CHAIRMAN ALONGSIDE SAKI MACOZOMA. GRAHAM MACKAY WILL SUCCEED COOPER AS JOINT DEPUTY CHAIRMAN OF STANBIC AND SBSA AND BECOME CHAIRMAN OF STANDARD BANK LONDON. THESE APPOINTMENTS WILL TAKE EFFECT ON 1 JANUARY 2001.

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