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DISCOVERY LIMITED - Planned changes to the board of directors

Release Date: 06/12/2018 12:00
Code(s): DSY DSBP DSY03 DSY01 DSY02 DSY04     PDF:  
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Planned changes to the board of directors

DISCOVERY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/007789/06)
JSE share code: DSY, DSYBP
JSE bond company code: DSYI
(“Discovery” or “the Company” or “the Group”)

PLANNED CHANGES TO THE BOARD OF DIRECTORS

In accordance with paragraph 3.59 of the JSE Limited Listings Requirements, shareholders are
advised of the following planned changes to the Board of Directors (“Board”) of the
Company.

RETIREMENT OF THE CHAIRPERSON OF THE BOARD: MR. MONTY HILKOWITZ

Mr. Hilkowitz, independent non-executive Chairperson and Director has informed the Board
of his intention to retire, effective 28 February 2019.

Mr. Hilkowitz has served as a non-executive Director of the Company since April 2002 and
has been Chairperson of the Board since 1 January 2008. During his Chairmanship, Discovery
has grown considerably, launching three new businesses, concluding five joint ventures and
growing its client base from 2.5 million in three markets to 18 million members in 20
markets. Discovery wishes to thank Mr. Hilkowitz for his invaluable contribution to the Group
over the past 16 years.

Mr. Hilkowitz will ensure a controlled handover to the new Chairperson and will continue to
serve as non-executive Director on the Boards of certain of the Group’s UK subsidiaries.

APPOINTMENT OF CHAIRPERSON OF THE BOARD: MR. MARK TUCKER

The Company is pleased to announce the appointment to the Board of Mr. Tucker as
independent non-executive Chairperson and Director, with effect from 1 March 2019.

Mr. Tucker has had a long relationship with Discovery, spanning more than 13 years,
commencing during Discovery’s JV with the Prudential, continuing through its first Vitality
partnership with AIA, and then as a member of Discovery’s International Advisory Board
since 2014. His succession to the Board is seen as critical and timely given that Discovery’s
global expansion into different markets via key partnerships creates considerable
opportunity. The Board believes that Mr. Tucker’s substantial global and institutional
experience will be hugely valuable to the Group in this expansion.

Mr. Tucker is the non-executive Group Chairman of HSBC Holdings plc. From 2010 to 2017
Mr. Tucker was the Group Chief Executive and President of AIA Group Limited. He led its
record-breaking initial public offering in Hong Kong in October 2010. AIA is today the
second largest life insurance company in the world and the world’s largest, independent
publicly-listed pan-Asian life insurance group. Prior to AIA, Mr. Tucker was Group Chief
Executive of Prudential plc from 2005 to 2009. He served on the Court of the Bank of
England as a non-executive Director 2009 to 2012 and was an independent non-executive
Director of the Goldman Sachs Group 2012 to 2017. Mr. Tucker qualified as an Associate of
the Institute of Chartered Accountants in England and Wales (ACA) in 1985, is an Associate
Professor at the Chinese University of Hong Kong and serves on the Asia Business Council
and the Advisory Board of the Asia Global Institute.

Discovery welcomes Mr. Tucker to the Board.

Sandton
6 December 2018

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

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