KAL Group Limited, formerly known as Kaap Agri Limited, has announced a significant change within its board of directors. In a formal statement issued today, the company revealed that Mr. Bernhardt Seyfferdt du Toit, an independent non-executive director and a valued member of the audit and risk committee, will not be making himself available for re-election at the upcoming 2024 Annual General Meeting (AGM).
The decision by Mr. du Toit to retire from his directorial role comes in accordance with KAL Group’s memorandum of incorporation, which stipulates that directors retire by rotation at the company’s AGMs. While the specific date for the 2024 AGM is yet to be communicated to shareholders, it is clear that this meeting will mark a transition within the company’s leadership.
Mr. Bernhardt Seyfferdt du Toit’s decision to step down from his position underscores the natural evolution of corporate boards and the importance of fresh perspectives. He has been a dedicated contributor to KAL Group’s governance and oversight as an independent non-executive director. His departure signifies the need for new voices and insights to continue guiding the company’s strategic decisions.
In response to Mr. du Toit’s retirement, KAL Group’s board of directors expressed their gratitude and appreciation for his significant and positive contributions to the company over the years. Such expressions of thanks are common when a respected board member concludes their tenure, acknowledging the valuable role they played in the company’s journey.
The board’s message resonated with the broader sentiment of gratitude from shareholders and stakeholders who have benefitted from Mr. du Toit’s expertise and dedication during his tenure. His departure leaves an open seat on the board, which will likely be filled by a new director at the 2024 AGM.
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