New board and chairperson for KWV
2009-07-30
FOLLOWING the unbundling of KWV, a new board has been appointed for KWV Holdings – the company that will manage KWV’s operational activities. From 18 August, the new board will be led by Thys du Toit , when the unbundling is completed. At the final board meeting for KWV Ltd last week in Paarl, Danie de Wet (chairman since 2004) announced his resignation, after which the newly appointed board members for KWV Holdings elected du Toit as the new chairman. He was CEO of Coronation Fund Managers for ten years, runs an investment management business (Rootstock investment Management) and serves on a number of boards. He expressed his appreciation for the legacy of the KWV board: “I would like to honour the passion and energy of the generations of people involved in KWV up to now. “On a non-executive and an operational level, people have been deeply involved with this company, and have shaped the proud heritage of KWV today. “However, we live in very dynamic times, and with the unbundling, KWV now has the opportunity to reshape itself and to embrace change. “There will be many opportunities to take the company’s customers, consumers, shareholders, employees and other stakeholders with us in this process. “The new KWV will be a relatively small business with a strong foundation and lots of potential,” he said. The other board members for KWV Holdings are Niel Ellis, Philip Retief, Khutso Mampeule, Abrie Botha, Jannie Mouton, Antonie Jacobs, Christo Wiese and CEO Thys Loubser. * KWV Ltd has decided to sell its grape juice concentrate plant in Upington to neighbouring Orange River Wine Cellars (OWC) for R70 million.
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