MANAGEMENT: New Board And Chairman For KWV
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Following the unbundling of KWV Ltd, a new board has been appointed for KWV Holdings - the new company that will manage KWV's operational activities. The new board will take effect from 18 August, when the unbundling is completed, and KWV Ltd shareholders will receive their new share certificates in both Capevin Holdings Ltd and KWV Holdings Ltd.
At the final board meeting for KWV Ltd yesterday, in Paarl, Danie de Wet announced his resignation as chairman. The newly appointed board members for KWV Holdings subsequently elected Thys du Toit as the new chairman.
Thys du Toit, who was CEO of Coronation Fund Managers for 10 years, runs an investment management business, Rootstock investment Management and serves on a number of boards.
Danie de Wet, the owner of De Wetshof wines, has been a director at KWV since 24 April 1996, and has been chairman since 1 January 2004. He was only the sixth chairman of KWV in the 91 years of the institution's existence.
Danie said of his time at KWV: "These years were enormously enriching. I am proud of KWV. I met and worked with wonderful people. I shall always be the best ambassador for KWV."
Thys du Toit expressed his appreciation for the legacy of the KWV Ltd 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."
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.
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