Shifting Leadership Landscape: Italtile’s Strategic Moves Signal Growth and Governance Excellence

  • Leadership Changes: Ms E.J. Willis steps down as Italtile's company secretary after 20 years, continuing service in subsidiaries.
  • New Company Secretary: Acorim Proprietary Limited appointed, bringing extensive experience and expertise to Italtile's leadership team.
  • Remuneration Committee Transition: Ms Susan du Toit steps down as Chairperson, replaced by Ms Alex Mathole, ensuring seamless leadership continuity.
By Lethabo Ntsoane

Italtile Limited has unveiled significant changes to its leadership structure and board committees. The company, listed on the JSE Limited, disclosed the alterations in compliance with paragraph 3.59 of the Listings Requirements.

Ms E.J. Willis Steps Down as Company Secretary After Two Decades of Dedicated Service

In a noteworthy development, Ms E.J. Willis has decided to step down from her position as company secretary, bringing a remarkable twenty-year tenure with Italtile to a close. While relinquishing her role within the Group, Ms Willis will continue to serve as the company secretary for various unlisted subsidiary entities.

The Board expressed its sincere gratitude for Ms Willis’s invaluable contributions throughout her lengthy tenure, highlighting her commitment to the company. It looks forward to her continued involvement in her new capacity.

Acorim Proprietary Limited Takes the Helm as Company Secretary

Effective 1 December 2023, Acorim Proprietary Limited, a distinguished company secretarial and corporate governance service provider, has been appointed as the new company secretary. The Board has expressed confidence in Acorim, citing its extensive experience, qualifications, and expertise in assuming this crucial role.

The following table outlines the revised composition of the Remuneration Committee:

Remuneration CommitteeRole
A Mathole (Chairperson)Chairperson
G A M RavazzottiCommittee Member
S M du ToitCommittee Member
S G PretoriusCommittee Member
L R LangenhovenCommittee Member

Ms Susan du Toit Transitions Roles in the Remuneration Committee

Simultaneously, Ms Susan du Toit, who previously held the position of Chairperson in the Remuneration Committee, has stepped down from her role. However, she will remain an active member of the committee. Ms Alex Mathole, an existing member of the Remuneration Committee, has taken over the role of Chairperson.

This strategic transition aims to maintain the committee’s effectiveness and continuity, ensuring a seamless shift in leadership responsibilities.

Board’s Satisfaction with Changes

The Board has expressed its satisfaction with these changes, emphasizing the continued commitment to effective governance and leadership within the company. The adjustments, effective from 1 December 2023, mark a significant chapter in Italtile’s ongoing journey, reinforcing its dedication to maintaining high standards in corporate governance.

The announcement, made in compliance with JSE Limited requirements, signals Italtile’s proactive approach in adapting its leadership structure to meet evolving business needs.

Conclusion

As Italtile undergoes these changes in key positions, the company remains optimistic about the future and the contributions of its longstanding and newly appointed members. The Board’s forward-looking stance, coupled with its acknowledgment of past contributions, reflects a commitment to sustained growth and excellence in the South African business landscape.

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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