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Chief Executive Officer steps down, Pieter van der Westhuizen appointed acting CEO
Life Healthcare Group Holdings Limited
Incorporated in the Republic of South Africa
Registration Number: 2003/002733/06
ISIN: ZAE000145892
Share Code: LHC
("Life Healthcare" or the "Company" or “the Group”)
CHIEF EXECUTIVE OFFICER STEPS DOWN, PIETER VAN DER WESTHUIZEN APPOINTED ACTING CEO
In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, the board of directors ("the Board")
hereby notifies its shareholders that Dr Shrey Viranna will be stepping down as Group chief executive officer (“CEO”)
and as an executive director of the Board of Life Healthcare and its related subsidiaries, with immediate effect. Dr
Viranna is emigrating to Australia for personal and family reasons.
Pieter van der Westhuizen, the current Group chief financial officer (“CFO”) has been appointed acting Group CEO,
with immediate effect. Pieter will also retain his role as CFO, supported by the Company’s highly capable finance
function. Pieter has been with Life Healthcare for 20 years, the last five as Group CFO. Dr Viranna will remain with the
Company as a special advisor until 29 February 2020 to provide continuity and to ensure a smooth and managed
transition.
The Chairman of the Board, Mustaq Brey, said: “Pieter has vast experience of the industry and Life Healthcare and,
having also previously acted as CEO, will provide immediate strategic, operational and leadership continuity for the
business as we start the new year.”
Expressing his regret at Dr Viranna’s departure, Brey said: “Shrey joined the Company in February 2018, and, during
his tenure, has displayed impeccable leadership, together with strong industry insight and stakeholder interaction.
Shrey has put in place an experienced and capable executive management team, who, together with the business
management teams, remains committed to the strategy of continuing to deliver a robust, sustainable long- term
business. We appreciate that Shrey has made a very personal family decision and we respect that. Shrey has indicated
that he would be available to assist us in future, if required. On behalf of the Board, and the Company, I thank Shrey
for his invaluable contribution to Life Healthcare and wish him all the very best in his future endeavors as he embarks
on this next phase of his personal journey.”
Shrey Viranna said: “I have been privileged to lead the Company for the past two years. Together with the
encouragement of the Board and the unwavering support of the executive management team, we have taken critical
steps to transform the business, making decisions to ensure the Group’s sustainability, and long-term success. My
departure is a difficult but very personal decision, and I leave the Company with great sadness. I thank the staff and
our doctors for their hard work and dedication and wish Life Healthcare every success.”
Pieter van der Westhuizen said: “We will continue delivering on our 2025 strategy with its unwavering focus on our
patients, people, clinical quality and building an analytics-led, technologically enabled Group across all markets. I look
forward to continuing working with the Board and our management teams to ensure a smooth transition.”
The Board has embarked on a process to identify a suitable successor and shareholders will be kept updated, as
required.
Illovo
17 January 2020
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 17-01-2020 07:05:00
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