Nonkululeko Nyembezi appointed as first black woman to chair Alexander Forbes

1st November 2017

By: African News Agency

  

Font size: - +

South African financial services group Alexander Forbes on Wednesday announced the appointment of veteran business executive Nonkululeko Nyembezi as the new independent nonexecutive chairperson with effect from January 1, 2018.

Nyembezi will become the first woman to chair the board in the company’s 82-year existence. She will succeed Sello Moloko whose extended term ended on Tuesday.

This comes after former chief executive and senior partner at audit firm KPMG Moses Kgosana failed to become the group’s chairperson after he resigned as nonexecutive director following his alleged role in the scandal of R30-million in public money being used to pay for a Gupta family wedding.

Nyembezi joins the company at a time of strategic and business transformation in the implementation of its Ambition 2022 growth strategy to create a globally distinctive pan-African financial services leader.

She has held executive and nonexecutive corporate positions in a career spanning over 30 years across financial services, mining, information technology and the telecommunications sectors.

Nyembezi is presently the independent nonexecutive chairperson of the Johannesburg Stock Exchange (JSE), and a nonexecutive director of Old Mutual. She is also chief executive of Ichor Coal, an international mining company operating in the thermal coal industry in South Africa.

Nyembezi said she was honoured to have been appointed to chair the board of Alexander Forbes. Moloko said Alexander Forbes was privileged to have such a highly regarded professional with extensive business and leadership experience as Nyembezi to chair the company’s board.

Alexander Forbes said that Mark Collier, currently the lead independent director, chairperson of the remuneration and nominations committees, and a member of the audit committee, will assume the role of the interim nonexecutive chairperson from 1 November to 31 December 2017.

Edited by African News Agency

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION