THE chairman of KWV, Danie de Wet, has been elected outright to the board, with 67,9% support by shareholders.
In October last year, de Wet was appointed director by his co-directors after he failed to be elected outright at the annual general meeting.
A majority of shareholders voted against him (including a protest vote against KWV’s poor performance by the shareholders of agricultural investment company Zeder), and a large block (25% of the shareholders represented by empowerment arm Phetogo) abstained.
At a general meeting of shareholders last week, de Wet was elected as a director of the company and will stay on as chairman of the board, this time with the support of the Zeder shareholders.
A total of 233 shareholders voted in favour of de Wet (67,9% of the shares voted) while nine shareholders voted agasint him and four abstained.
The vacancy on the board will be filled by an appointed director to represent the empowerment shareholders, at the discretion of the board.
Bawsi president Nosey Pieterse (a member of Phetogo, the BBBEE shareholder) has expressed his displeasure at de Wet’s election and announced plans to sell Bawsi’s KWV shares.
Last year KWV reported an operating loss of R35 million before tax.
