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2019-05-29 04:18:00 PM
|AIP: ADCOCK INGRAM HOLDINGS LIMITED - Changes to the board of directors|
AIP: ADCOCK INGRAM HOLDINGS LIMITED - Changes to the board of directors Changes to the board of directors Adcock Ingram Holdings Limited (Registration number 2007/016236/06) (Incorporated in the Republic of South Africa) Share code: AIP ISIN: ZAE000123436 ("Adcock Ingram" or "the Company") CHANGES TO THE BOARD OF DIRECTORS In accordance with paragraph 3.59 of the Listings Requirements of the JSE Limited, Shareholders are advised of the following Board changes at Adcock Ingram: o Mr Clifford Raphiri will retire as Chairman of the Board and Nominations Committee as well as a member of the HR, Remuneration and Nominations Committee effective 30 June 2019; and o Dr Roger Stewart will retire from the Board and as a member of the Audit Committee as well as the Chairman of the Risk and Sustainability Committee effective 30 June 2019. Mr Raphiri and Dr Stewart retire from the Board in accordance with the Board resolution which was adopted in 2018 that directors who have reached a 9-year tenure shall automatically retire from the Board. The Board is grateful for their contributions and wishes Mr Raphiri and Dr Stewart well in their future endeavours. o Mr Lindsay Ralphs has been appointed Chairman of the Board effective 01 July 2019. He also serves as a member of the Acquisitions Committee; and o Prof Matthias ("Matt") Haus has been appointed as the Lead Independent Director, effective 01 July 2019. In accordance with the principles of good corporate governance, the appointment of Prof Haus as Lead Independent Director is to achieve a balance of power and reinforce accountability mechanisms on the Board. Prof Haus also serves as a member of the Audit Committee and Risk and Sustainability Committee. Adcock Ingram incoming Chairman, Mr Lindsay Ralphs, commented: "As a Board we express our appreciation to Clifford and Roger for their significant contributions to the Company. I am delighted to have been appointed Chairman of Adcock Ingram and look forward to working well with the Board, management and Matt to build on the solid foundation laid by my predecessors." ABRIDGED CVS Mr Ralphs is the CEO of The Bidvest Group Limited and Director of numerous Bidvest subsidiaries, and Chairman of Bidvest Namibia. He joined the Adcock Ingram Board on 24 November 2016. Prof Haus was elected to the Adcock Ingram Board on 1 June 2012. He is Extraordinary Professor in Medicine at the University of Pretoria. He is also a partner at Gateways Business Consulting Group. The Board congratulates Mr Ralphs and Prof Haus on their appointments and wishes them well in their new roles. Midrand 29 May 2019 Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 29/05/2019 04:18:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
|2019-05-29 16:18:00 Source: JSE News Service (SENS)|