To view the PDF file, sign up for a MySharenet subscription.

BELL EQUIPMENT LIMITED - Changes To The Board Of Directors

Release Date: 15/03/2018 12:00
Code(s): BEL     PDF:  
Wrap Text
Changes To The Board Of Directors

BELL EQUIPMENT LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1968/013656/06
ISIN: ZAE000028304
Share Code: BEL
(“the Company” or “Bell”)

CHANGES TO THE BOARD OF DIRECTORS

Further to the announcement released on SENS on 8 June 2017 in
respect of the Company’s succession plans, the shareholders are
advised that Gary Bell will step down from his role as chief
executive officer but will remain with the group, having been
appointed by the board of directors (“the board”) as the non-
executive chairman of the board effective 1 June 2018. Gary Bell
is the son of the founders of the company, having steered the group
to becoming an internationally recognised global articulated dump
truck manufacturing specialist and a full range material handling
distributor in Southern Africa.

As part of the Company’s orderly succession plan, with effect from
1 June 2018, Leon Goosen, the current chief executive designate,
will assume the position of chief executive officer and John Barton
will step down as chairman of the board, having been appointed by
the board as the lead independent non-executive director to ensure
adherence to good governance principles.

The board would like to thank Gary for his exemplary service,
dedication and commitment to the Company since 1971. The board
looks forward to Gary’s continued contribution as the non-
executive chairman. The Company will continue to benefit from his
industry experience and intimate knowledge of Bell.

The board would like to thank John for his chairmanship during the
3 years of his tenure, having served on the board since 2009,
overseeing the significant growth and transformation of the
Company, and wishes him well in his new role.

The Board congratulates Leon on his appointment as chief executive
officer, enjoying the full support of the board, and is confident
that he, together with senior management, will continue to grow
and build the Bell core business and deliver the right outcomes
for the Company and its stakeholders.

Following these changes, the composition of the board remains
compliant with the King IV requirement that a board of directors
should comprise a balance of power, with a majority of non-
executive directors, the majority of whom should be independent.

Commenting on behalf of the board on Gary Bell’s appointment as
chairman, John Barton expressed confidence in the board’s
decision: “No director will have unfettered powers of decision-
making and the responsibility for running the board and the
executive   responsibility   for   the   business are   clearly
differentiated. The board has put in place well considered and
adequate processes, including the appointment of a lead
independent non-executive director, to uphold and safeguard
adherence to good governance at all times.”


Richards Bay
15 March 2018
Sponsor: INVESTEC BANK LIMITED

Date: 15/03/2018 12:00:00 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.

Share This Story