Fortress Real Estate Investments Limited has recently revealed crucial changes to its board of directors and board committees. The company, formerly known as Fortress REIT Limited, operates under the JSE share codes FFA (ISIN: ZAE000248498) and FFB (ISIN: ZAE000248506), with the bond company code FORI and LEI 378900FE98E30F24D975.
In an official statement released on June 30, 2023, Fortress announced the appointment of Mr. Caswell Rampheri as an independent non-executive director and member of the property and investment committee, as well as the social, ethics, and sustainability committee. Simultaneously, Mr. Eddy Oblowitz has been appointed as the chairperson of the remuneration committee. These appointments are set to take effect from June 29, 2023.
Mr. Rampheri, a highly accomplished professional in the field, holds a BA LLB degree, a Higher Diploma in Tax, and certificates in Shopping Centre Management, Finance and Accounting, and Estate Agency. His career boasts an array of significant roles, including serving as a commercial property consultant at Investec Property Group, a project executive and centre manager with Old Mutual Properties, deputy general manager within the Peermont Group, head asset manager and strategy director at Pareto Limited, and various senior management positions at Liberty Properties.
Beyond his impressive corporate career, Mr. Rampheri has demonstrated his commitment to the real estate industry and broader community. He has been a past director of the Joburg Property Company, president of the South African Institute of Black Property Practitioners, and a committee member of the South African Property Owners Association. Currently, he serves as a non-executive director of Delta Property Fund Limited and as the chief executive officer of the Buna Group, a pan-African real estate and infrastructure development company he founded in 2009.
Fortress Real Estate Investments Limited reassures shareholders and stakeholders that Mr. Rampheri’s appointment aligns with the Company’s policy on director nominations. The board eagerly anticipates his valuable contributions in guiding the organization’s strategic endeavors.
The appointment of Mr. Eddy Oblowitz as the chairperson of the remuneration committee is equally notable. With his extensive expertise and leadership skills, Mr. Oblowitz is expected to enhance the committee’s effectiveness and ensure fair and sound remuneration practices within the organization.