RAND MERCHANT INVESTMENT HOLDINGS LIMITED - Changes to directorate

Release Date: 07/03/2018 08:31
Code(s): RMI
 
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Changes to directorate

RAND MERCHANT INVESTMENT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2010/005770/06
ISIN: ZAE000210688
Share code: RMI
("RMI" or "the group")

CHANGES TO DIRECTORATE

1. Retiring directors

In compliance with paragraph 3.59 of the JSE Limited Listings
Requirements, RMI shareholders are advised of the retirement of
the following directors:
  - GT Ferreira (chairman);
  - Jan Dreyer;
  - Pat Goss (lead independent director); and
  - Khehla Shubane.

GT Ferreira has been involved in the financial services sector
since graduating from the University of Stellenbosch. He was a co-
founder of Rand Consolidated Investments in 1977, which acquired
control of Rand Merchant Bank in 1985. When RMB Holdings was
founded in 1987, he was appointed chairman, a position he still
holds. He has been RMI’s chairman since its inception in December
2010 and a driving force behind the group’s value creation and
relentless pursuit of high values. In a stellar career, he was
instrumental in building leading businesses such as FirstRand,
Discovery, MMI and OUTsurance.

In April, GT will turn 70 and reach the point of compulsory
retirement. He will be replaced as chairman by Jannie Durand, the
current deputy chairman, effective 31 March 2018.

GT’s legacy will remain as a set of unique values instilled in
RMI. These values will ensure that the set strategy is implemented
with integrity and discipline to create further value for
stakeholders.

Joining GT are Jan Dreyer, Pat Goss and Khehla Shubane. Together,
these four directors have a combined service of more than 130
years at RMI and its predecessor companies. RMI would like to
thank these directors for their wisdom, innovation and commitment
to the group.

The effective date of retirement for Messrs Ferreira, Dreyer and
Shubane is 31 March 2018 and for Mr Goss is 10 April 2018. The
appointment of a lead independent director to replace Pat Goss
will be announced in due course.
2. New directors

RMI welcomes the following new board members with effect from 31
March 2018:

  -   Ms   Mamongae Mahlare as independent non-executive director;
  -   Mr   Ralph Mupita as independent non-executive director;
  -   Mr   James Teeger as independent non-executive director; and
  -   as   alternate to Mr James Teeger, Mr David Frankel.

Mamongae Mahlare, MBA(Harvard), BSc (Chemical Engineering), is the
managing director of Illovo Sugar SA. Previously she was head of
alternate beverages at Coca Cola Beverages South Africa, held
various positions at SABMiller’s operations in Tanzania and
Mozambique and was an associate consultant at Bain & Company.

Ralph Mupita, MBA (UCT), BSc (Engineering)(Honours), is the chief
financial officer and executive director of MTN. He is the past
chief executive officer of Old Mutual Emerging Markets covering
life insurance, asset management, general insurance, lending and
banking businesses in Africa, Latin America and Asia.

James Teeger, BCom, CA(SA), leads the investment activities of the
Oppenheimer family. He was previously a director of De Beers and
spent 12 years at RMB where he held the position of co-head of
structured finance.

David Frankel, and electrical engineer with an MBA from Harvard,
is managing partner and co-founder of Founder Collective. He was
co-founder and chief executive officer of Internet Solutions and
served on the board of Dimension Data plc. He has served on the
board of RMB since 2007.


Sandton
7 March 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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