KWV chairman Thys du Toit has tendered his resignation from the Board of KWV with effect from 1 May, following the disposal of Rootstock Capital’s holding in KWV to listed company Hosken Consolidated Investments (HCI).
Last week Zeder Investments also disposed of its investment in KWV Holdings to HCI.
Antonie Jacobs and Jannie Mouton tendered their resignation from the Board with immediate effect.
The new board members are Marcel Golding (who was elected chairman from 1 May), John Copelyn and André van der Veen, from HCI.
Other board members, Abrie Botha and Phillip Retief, have tendered their resignations in the normal course of business, to devote more time to their respective executive duties.
Retief resigned with immediate effect and Botha with effect from 1 May.
The KWV Board expressed its appreciation of the contribution of the members retiring from service and in particular the leadership of the chairman shaped by his business acumen, energy and dedication.
The Board looks forward towards focusing on the task at hand: ensuring the commercial success of the company and its brands, and further building on a longstanding legacy of integrity at KWV.
* Golding is CEO of e-tv and executive chairman of HCI.
He was the founding chairman of the Mineworkers Investment Company (linked to the National Union of Mineworkers), one of the two pioneering trade union investment companies in South Africa.
He holds a post-graduate degree from the University of Cape Town where he tutored and lectured for a brief period, before joining the National Union of Mineworkers in the mid ‘80s. He was elected the first Deputy General Secretary of the union in 1987.
Whilst a unionist he served on various Cosatu executive and committee structures, and also served as member of both the Miners International Federation and the Southern African Miners Federation executive committees.
From 1994 to 1997 he served as a member of parliament, where he chaired the Minerals and Energy Committee and the Audit Commission.
He pioneered key health and safety legislation for the mining industry, as well as policy papers in both the mining and energy fields.
He resigned from parliament to go into business in 1997.
He is a director of Tsogo Sun Holdings and Golden Arrow Bus Service, among others.
Marcel is also involved in a number of philanthropic, development and policy organisations as a trustee or director, including the HCI Foundation and Wheatfields Foundation.
* It is uncertain who will foot the bill of R260 000 for the forensic investigation which was launched recently in an effort to find out who had been leaking sensitive information about the Pioneer negotiations to the press. The expenditure has not yet been approved by the board.
