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GRF - Group Five Strengthing Its Management Team

Release Date: 20/09/2007 14:57
Code(s): GRF
Wrap Text

GRF - Group Five Strengthing Its Management Team Group Five Limited (Registration number: 1969/000032/06) (Incorporated in the Republic of South Africa) (Share Code: GRF ISIN Code: ZAE 000027405) ("Group Five" or "the Group") GROUP FIVE STRENGTHING ITS MANAGEMENT TEAM The board of Group Five today announced the appointment of a Group Financial Director and a Human Resources Director. In recognition of her contribution to the Group in an expanded role as acting Head of Finance since July 2007, Cristina Teixeira has been appointed as Group Financial Director. Junaid Allie has joined Group Five from Eskom in the position of Group Human Resources Director. Group Financial Director Teixeira will continue to be responsible for the financial management and reporting responsibilities required of a listed entity such as Group Five and will continue to operate as an assigned member of Group Exco. She will also be appointed to the construction and manufacturing boards, the group`s main operating boards. In addition, she will be responsible for Group IT and shared services. Teixeira has been responsible for the delivery of many of the Group`s business improvement initiatives in the areas of administration and controls, reporting and institutional communications. The Group continues to search for and shortlist an internationally experienced CFO with relevant strategic and operational experience. The CFO will be responsible for the Group`s expanding international businesses and will lead Group Five`s ability to finance the delivery of its strategy of a balanced portfolio through both acquisitive and organic growth. Until a CFO is appointed, Exco member Eric Vemer will continue to look after Group strategic corporate finance for mergers, acquisitions and disposals and will work with Teixeira on group capital structuring and related matters. Human Resources Director Allie was previously with Eskom Holdings as General Manager of HR, Strategy and Policy, including setting strategic direction for Eskom Holdings and subsidiaries. Before that, he worked in an operational role and set up and ran the HR function for a multinational pharmaceutical company in 15 countries in Africa, the Middle East and the Mediterranean region before returning to South Africa where he was instrumental in successfully driving transformation for the Group. Allie has significant experience in operational management, strategy and HR development, both in South Africa and internationally. He will be focusing on driving Group Five`s human capacity growth and culture change initiatives. He will join Group Five`s Exco team. Rivonia 20 September 2007 Sponsor Nedbank Capital Date: 20/09/2007 14:57:33 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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