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Board composition announcement
ITALTILE LIMITED
Registration number 1955/000558/06
Incorporated in the Republic of South Africa
Share Code: ITE ISIN: ZAE000099123
(“Italtile” or “the Group” or “the Company”)
BOARD COMPOSITION ANNOUNCEMENT
Italtile’s Nominations Committee has been tasked with interviewing and
appointing a Group Chief Executive Officer (“CEO”). This comprehensive
programme is currently underway and is anticipated to be a lengthy process.
In the interim and until such time as this appointment has been made, the
Board of Directors of Italtile (“the Board”) has been restructured to
ensure compliance with the Listing Requirements of the JSE Limited and the
King Code on Corporate Governance for South Africa, as amended from time to
time.
Accordingly, at the Group’s Board meeting held on 02 June 2013, it was
resolved that the following changes to Board members’ responsibilities
would be made with effect from 01 July 2013:
Mr GAM Ravazzotti, currently Executive Chairman and CEO, will relinquish
his position as Chairman and will serve as CEO until a permanent CEO is
appointed, whereupon he will resume his Chairmanship of the Group.
Mr SG (Brand) Pretorius, currently serving as an Independent Non-executive
Director, will be appointed Independent Non-executive Chairman.
It is anticipated that finality in terms of the Board structure will be
reached by the end of Financial Year 2014 and a further announcement in
this regard will be made to the market in due course.
Bryanston
10 June 2013
Sponsor:
KPMG Services (Pty) Limited
Date: 10/06/2013 08:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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