Board Shake-Up Boosts Astoria Investments: Stock Rises 2% on New Leadership Announcement

  • Astoria Investments appoints new leadership, including Nicolas Hardy as Chairman and Carli Botha as Director.
  • Catherine McIlraith resigns due to tenure limit; Casey Jorgensen takes over key roles.
  • Carli Botha brings extensive financial and legal expertise to the board, enhancing Astoria's strategic direction.

Astoria Investments Ltd, a Mauritius-based company, announced significant changes to its Board of Directors. These changes include new appointments and resignations. The company, listed on both SEM and JSE, detailed the updates in a recent press release.

Catherine McIlraith Resigns After Nine Years

Ms. Catherine McIlraith will resign as an independent non-executive director. Her resignation takes effect on August 9, 2024. McIlraith’s departure follows her reaching the nine-year tenure limit. Under the Companies Act of Mauritius, directors exceeding this term lose their independence status.

New Board Leadership: Nicolas Hardy

The Board has elected Mr. Nicolas Hardy as its new Chairman. Hardy’s appointment will be effective from August 9, 2024. Hardy is expected to bring fresh perspectives to the board’s leadership.

Casey Jorgensen Takes Over Key Roles

Ms. Casey Jorgensen will assume the role of Chairman of the Corporate Governance and Remuneration Committee. Jorgensen will also continue as Chairman of the Audit and Risk Committee. These changes will be effective from August 9, 2024.

Appointment of Carli Botha

Ms. Carli Botha will join the Board as an independent non-executive director. Botha’s appointment is set for August 1, 2024, pending approval from the Financial Services Commission. She will also join the Audit and Risk Committee on the same date.

Carli Botha’s Qualifications and Experience

Carli Botha brings extensive qualifications and experience to Astoria Investments. She is registered with SAICA and CIMA. Botha holds an LLM in Commercial Law and a Master of Accounting Science in Tax (Cum Laude).

Professional Journey of Carli Botha

Botha completed her CA(SA) articles at Nedbank. She then worked in Nedbank’s Corporate and Investment Banking division until 2019. Botha relocated to Mauritius in 2019. Since then, she has gained experience in the global business sector. Currently, Botha is an executive director overseeing Legal and Finance divisions at a veterinary research solution company.

Conclusion

The Board changes at Astoria Investments Ltd mark a new chapter for the company. The new leadership is expected to drive the company forward with renewed vigor. Shareholders and stakeholders will be keenly observing these developments.


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