LEWIS GROUP LIMITED - Changes To The Board Of Directors

Changes To The Board Of Directors

Lewis Group Limited
Incorporated in the Republic of South Africa
Registration Number: 2004/009817/06
JSE share code: LEW ISIN: ZAE000058236
 (“the group”)

CHANGES TO THE BOARD OF DIRECTORS

INDEPENDENT NON-EXECUTIVE CHAIRMAN
Independent non-executive chairman David Nurek has advised the board that he
plans to retire after serving as a director and chairman since the group’s listing on the
JSE in 2004.

The board has nominated independent non-executive director Hilton Saven to
succeed Mr Nurek.

Through a managed succession process, Mr Nurek has agreed to stand for re-election
as a director at the forthcoming annual general meeting (“AGM”) in August 2017. He
will serve as a director until a suitable candidate has been appointed to the board to
succeed Mr Saven as chairman of the audit committee, at which time he will formally
retire from the board and be succeeded by Mr Saven.

The board has commenced the selection process to identify a potential candidate to
serve as a non-executive director and chairman of the audit committee.

APPOINTMENT OF NON-EXECUTIVE DIRECTORS
Daphne Motsepe and Adheera Bodasing have been appointed as non-executive
directors with effect from 1 June 2017.

Ms Motsepe is an experienced banking executive and company director. She was
formerly chief executive of unsecured lending at Absa and also served as managing
director of Postbank. She is currently a non-executive director of Edcon, Mercantile
Bank Holdings, Rand Mutual Assurance Company and Kapela Investment Holdings.

Ms Bodasing is an attorney and lobbyist with widespread experience in the public and
private sectors. She was previously chief director legal services at National Treasury
and later served as a commissioner on the Gambling Review Commission. Ms
Bodasing is currently the managing director of Polarity Consulting, a legal and
lobbying consultancy which she founded in 2007.

RETIREMENT OF NON-EXECUTIVE DIRECTOR
Independent non-executive director Ben van der Ross will be retiring from the board at
the forthcoming AGM. Mr van der Ross (70) has been a director since 2004 and also
serves as chairman of the group’s remuneration committee.

The board extends its gratitude to Mr Van der Ross for his service to the group over
the past 13 years and for his wise, insightful and valuable contribution to board and
committee meetings.

EXECUTIVE DIRECTOR AND CHIEF FINANCIAL OFFICER
Les Davies (61) has advised the board that he will be stepping down as chief financial
officer (“CFO”) and as an executive director of the group with effect from 31 March
2018. He will continue to serve as the chief executive officer of the group’s short-term
insurer, Monarch Insurance. Jacques Bestbier (44) has been appointed as CFO
designate with effect from 1 June 2017. Shareholders are referred to the detailed
announcement ‘Appointment of Chief Financial Officer designate’ released on SENS
today.


Cape Town
24 May 2017

Sponsor
UBS South Africa (Pty) Ltd

Date: 24/05/2017 07:20:00 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.