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2024-02-12 2:54 PM

Sasfin Holdings Announces Changes to Board of Directors

  • Mr. Deon de Kock resigns: He steps down as Chair and non-executive director due to health reasons.
  • Mr. Richard Buchholz nominated: Current lead independent director chosen to succeed Mr. de Kock as Chair.
  • Board committees to see changes: Further announcements expected regarding adjustments to the Board's committees.
By Lethabo Ntsoane

Sasfin Holdings Limited has announced significant changes to its board of directors, effective 15 March 2024, subject to regulatory approval by the Prudential Authority.

Stepping Down of Mr. Deon de Kock

In a statement released today, Sasfin Holdings informed shareholders that Mr. Deon de Kock, who had been on temporary medical leave since November 2023, has decided to step down as Chair, non-executive director, and member of the Human Resources and Remuneration Committee of both Sasfin Holdings and Sasfin Bank Limited.

Mr. De Kock’s decision to resign from his positions comes after careful consideration and consultation with his medical team. The Group expressed its gratitude to Mr. De Kock for his invaluable counsel, dedication, and commitment during his tenure.

Nomination of Mr. Richard Buchholz as Chair

Following Mr. De Kock’s decision to step down, the board of directors has nominated Mr. Richard Buchholz, the current lead independent director, to succeed him as Chair. Mr. Buchholz has served as an independent non-executive director on the Board for six years and has been actively involved in various committees.

The Board believes that Mr. Buchholz possesses the necessary business insight, experience, and leadership skills to effectively chair the Board going forward. His appointment is expected to ensure a seamless succession process.

Changes to Board Committees

While the appointment of Mr. Buchholz as Chair is pending regulatory approval, the Board has indicated that further announcements regarding changes to Board committees will be made in due course. This move aims to maintain the stability and effectiveness of Sasfin Holdings’ governance structure.

Conclusion

The decision of Mr. Deon de Kock to step down as Chair and the nomination of Mr. Richard Buchholz to succeed him mark a significant transition for Sasfin Holdings. The Group expresses its appreciation for Mr. De Kock’s contributions and looks forward to Mr. Buchholz’s leadership as Chair pending regulatory approval.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo