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MMI HOLDINGS LIMITED - Executive Changes at MMI Holdings

Release Date: 22/06/2017 17:00
Code(s): MMI
Wrap Text
Executive Changes at MMI Holdings

MMI Holdings Limited

Incorporated in the Republic of South Africa

Registration Number: 2000/031756/06

JSE share code: MMI

NSX share code: MIM

ISIN: ZAE000149902

("MMI" or "the company")

EXECUTIVE CHANGES AT MMI HOLDINGS

Shareholders are informed that Chief Operating Officer (Danie Botes) and Chief Executive of
Momentum Retail (Etienne de Waal) have resigned to pursue other interests. Both Danie and
Etienne were with the group for more than 20 years and leave a lasting legacy. MMI Holdings would
like to thank Danie and Etienne for their contribution to the group.

In response to the resignations and to enable the group to deliver on its strategic initiatives, we wish
to announce the following executive changes:

Mary Vilakazi, current group Finance Director, has been appointed Deputy Chief Executive of MMI
Holdings. Mary’s portfolio will include responsibility for the group’s finance, information technology,
and operations functions. The Deputy CEO role will effectively amalgamate the previous COO and FD
roles. To support Mary in the expanded responsibility, two new roles have been added to the MMI
executive committee; Group Chief Financial Officer and Group Head of Operations.

Risto Ketola, current Investor Relations and Business Performance Executive, has been appointed
Group CFO. Risto will take executive accountability for investor relations, performance management,
group reporting, certain group-wide services, merger & acquisitions, and balance sheet
management.

Ashlene van der Colff, current Group Chief Internal Audit Executive, has been appointed Group
Head of Operations. Ashlene has a proven track record in implementing business processes and will
take responsibility to ensure that MMI operations and work practices are robust, effective, and
efficient.

Khanyi Nzukuma has been appointed CEO of Momentum Retail. Khanyi has a strong track record
having led the extensive channel restructuring in Metropolitan Retail that is now bearing fruit.
Khanyi’s skill set in distribution and in leadership makes him the ideal candidate to take forward
Momentum’s plans around revitalising its distribution models and client engagement experiences.

As mentioned to shareholders previously, the group continues to revitalise its operating model to
ensure that we deliver on our strategic vision of being the preferred lifetime Financial Wellness
partner, with a reputation for innovation and trustworthiness. In the medium term our focus is to
invest in our distribution capabilities and in our client engagement solutions as well as to narrow our
geographic footprint in Africa in order to maximise delivery in our core businesses in South Africa.
22 June 2017

Sponsor:

Merrill Lynch South Africa (Pty) Ltd

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