In a significant move that underscores its commitment to stability and strategic vision, Delta Property Fund Limited announced the appointment of Ms. Sibongile (Bongi) Masinga as its permanent Chief Executive Officer (CEO) for a three-year term, effective from 4 October 2023. The decision, made in compliance with the JSE Listings Requirements, was revealed in a statement by the company today.
Ms. Masinga, who previously served as the Interim CEO from 25 August 2020 to 31 January 2022 and then from 2 December 2022 to 3 October 2023, brings a wealth of corporate experience to her new role. During her interim tenures, she demonstrated exceptional leadership, actively driving the restructuring of Delta’s portfolio and significantly improving relationships with tenants. Additionally, her efforts played a vital role in securing improved funding terms for the company.
The Board of Directors expressed their confidence in Ms. Masinga’s ability to lead Delta into a new era of growth and value creation for shareholders. This permanent appointment not only recognizes her past achievements but also signifies the board’s trust in her capacity to guide the company through its chosen strategic path.
“We are delighted to announce Ms. Masinga’s permanent appointment as CEO. Her outstanding leadership during her interim roles has been pivotal in steering Delta towards its strategic goals,” said the Board in a collective statement. “We believe her wealth of experience and proven track record will contribute significantly to our ongoing success, creating enduring value for our shareholders and stakeholders.”
Under Ms. Masinga’s interim leadership, Delta achieved substantial progress in key areas. Notably, her focus on enhancing tenant relations has bolstered the company’s reputation, and her adept negotiation skills have led to improved funding terms, providing a stable financial foundation for future ventures.
In acknowledgment of this new chapter, a spokesperson for Delta stated, “Ms. Masinga’s appointment marks a milestone in our journey. Her vision, combined with her ability to navigate complex corporate landscapes, aligns perfectly with Delta’s strategic objectives. We are confident that her leadership will usher in an era of sustained growth and innovation for the company.”
This appointment sends a positive signal to the market, assuring stakeholders of Delta Property Fund’s commitment to a stable and prosperous future. As Ms. Masinga assumes her role as the permanent CEO, the company looks poised for a period of sustained growth, innovation, and value creation, under her able guidance.
