JOHANNESBURG, (CAJ News) – SANLAM has announced Dr Johan van Zyl as its new chairman after Patrice Motsepe declined the offer.
The appointment is effective in June 2017.
Van Zyl will succeed Desmond Smith who has served as Chairman since 2010 will retire after the Annual General Meeting set for then.
Motsepe will retain his position as Deputy Chairman.
Sipho Nkosi, who has served as an independent non-executive director on the board since 2006, has been appointed as the lead independent non-executive director.
Smith currently sits on the Supervisory Board of Steinhoff International Holdings and is a Director on several other boards.
Van Zyl, who is currently the Chief Executive Officer (CEO) of Ubuntu-Botho (UB) as well as the joint CEO of African Rainbow Capital (ARC) and is a former CEO of Sanlam, was appointed to the Board as a non-executive director in January 2016.
Smith says Motsepe was the board’s choice but the board respects his decision and recommendation that van Zyl, is well positioned to take over as chairman.
“His association with Sanlam and industry experience will add value to the future direction and growth of the company for the benefit of all stakeholders.”
Sanlam has been transformed from a South African life insurer to a multinational diversified financial services group.
– CAJ News