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GROUP FIVE LIMITED - Appointment of Chief Executive

Release Date: 23/09/2014 08:16
Code(s): GRF     PDF:  
Wrap Text
Appointment of Chief Executive

GROUP FIVE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1969/000032/06)
Share code: GRF ISIN: ZAE 000027405
("Group Five" or "the company" or "the group")



APPOINTMENT OF CHIEF EXECUTIVE

Subsequent to the SENS released on 13th August 2014 in which shareholders were
advised that Chief Executive Officer, Mike Upton, is approaching the group’s
executive retirement age, the board has accordingly completed a process to appoint
Mike Upton’s successor.


The Board is pleased to announce the appointment of Eric Vemer as Chief Executive
Officer Designate in succession to Mike Upton.


Eric will commence his appointment as group Chief Executive Officer on 1st
December 2014.


His appointment follows an extensive selection process from a group of carefully
selected and competitive internal and external candidates. The Board is pleased to
announce that an internal candidate has been appointed and is confident that Eric
will successfully lead Group Five into the future off the solid base created over the
last few years.


Eric is 49 years old and holds a BSc. Civil Engineering Degree (First Class Honours)
and an MBA from the University of Cape Town and recently completed an executive
development programme at Harvard University in the United States of America.


Eric joined Group Five in 2005 and has broad and geographically diverse experience
in the engineering, contracting, consulting, manufacturing, project finance and
infrastructure concessions sectors. He is a member of the Group Executive
Committee and was managing director of the strong performing Investment and
Concessions cluster and a key participant in the group’s strategy development
group, leading many of the group’s acquisition and disposal activities and BBBEE
transactions.


This appointment allows for an orderly handover of responsibility for the future of the
group over the coming two months to 1st December 2014. During this time, and for a
period thereafter, Mike Upton will support the transition and assume specific projects
for the group.




Johannesburg

23 September 2014

Investment Bank and Sponsor

Nedbank Capital

Date: 23/09/2014 08:16:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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