Rebosis CEO Sisa Ngebulana
JSE-listed property developer Rebosis’s recent acquisition of two dominant regional shopping malls and management companies from Billion Group has necessitated the company making some key leadership changes.
The company on Tuesday noted that it had become imperative to have dedicated and independent leadership to take the company into its next phase and, as such, Rebosis founder and CEO Sisa Ngebulana would step down from his position, effective September 30.
“This allows for a smooth hand over for the next four months to the newly appointed CEO,” the company said in a statement, adding that current COO Andile Mazwai would take over the reins on October 1.
Ngebulana, meanwhile, would take up the position of nonexecutive deputy chairperson.
The Rebosis board lauded Ngebulana for his many achievements as head of the company, including realising every distribution forecast stated to shareholders, each year since inception, listing in 2011 and growing the asset base six-fold from R3.6-billion when listing on the JSE to R21.3-billion currently.