Premier Group Limited has made sweeping changes to its board leadership and committee composition in a strategic move aimed at reinforcing its governance framework and driving the company forward into a new era.
In compliance with paragraph 3.59 of the JSE Listings Requirements, Premier Group Limited has announced that Mr. Corrie Roodt, the longstanding Chairman of the Premier Board of Directors, will be stepping down from his role. Mr. Roodt’s resignation will become effective following the conclusion of the Company’s Annual General Meeting (AGM) scheduled for Tuesday, 5 September 2023. Having adeptly guided the Company through a significant transitional phase, Mr. Roodt will continue his association with Premier as an independent, non-executive director of the Board until 31 March 2024, aligning with the close of the current financial year.
The Board expressed deep appreciation for Mr. Roodt’s remarkable 12-year tenure, during which he played a pivotal role in charting Premier’s course and leading it into its present listed phase. The Board looks forward to leveraging his expertise and experience during his extended tenure on the Board.
Stepping into the role of Chairman of the Board is Mr. Iaan van Heerden, a current non-executive director. Mr. van Heerden’s appointment, effective post-AGM, marks a significant transition in Premier’s leadership. Having been an integral part of the Board since June 2021, Mr. van Heerden is well poised to guide Premier toward its future goals, underpinned by his deep understanding of the company’s dynamics.
In line with King IV and paragraph 3.84(b) of the JSE Listings Requirements, Ms. Faith Khanyile, a distinguished independent non-executive director, has been named Premier’s Lead Independent Director. Effective after the AGM, this appointment underscores Premier’s unwavering commitment to robust corporate governance standards and emphasizes the vital role of independent oversight.
Adding to the changes, Mr. Rolf Hartmann, a director with a remarkable 16-year tenure, has chosen not to seek re-election at the AGM. Consequently, he will resign from the Board following the AGM’s conclusion. This step will also prompt his departure from key committees, including the Audit and Risk, Social and Ethics, and Remuneration and Nomination Committees. Mr. Hartmann’s legacy is one of impactful contributions to Premier’s growth, and the Board expresses its sincere gratitude for his dedication and guidance.
In a related adjustment, the tenure of Mr. Peter Hayward-Butt, an alternate director to Mr. Hartmann, will conclude simultaneously with the AGM. The Company plans to nominate Mr. Hayward-Butt as an alternate director to Mr. Jonathan Matthews, a current non-executive director, subject to the approval of shareholders.
Consequent to these changes, the Board has implemented a reconstitution of its committees, aligning with its commitment to effective governance practices. Key committee appointments include:
|Audit and Risk||Mr. Harish Ramsumer||Ms. Faith Khanyile, Mr. Jonathan Matthews|
|Social and Ethics||Mr. Wandile Sihlobo||Ms. Faith Khanyile, Mr. Jonathan Matthews|
|Remuneration and Nomination||Mr. Jonathan Matthews||Mr. Corrie Roodt, Mr. Iaan Van Heerden|
Premier Group Limited emphasizes that these changes will maintain the integrity and effectiveness of the Board’s committees, ensuring that the company’s governance practices remain robust and aligned with best practices.