Kagiso Tiso Holdings announces new CEO01 December 2011
The board of directors of Kagiso Tiso Holdings ("KTH"), today announced the appointment of current Deputy Chief Executive Officer - Vuyisa Nkonyeni - to the role of Chief Executive Officer, with effect from 1 January 2012.
Nkululeko Sowazi, co-chair of KTH says, "Vuyisa brings a wealth of experience to the role and we are confident that, together with his strong executive management team, he will provide the necessary leadership that is required to take KTH successfully into the future."
Vuyisa has more than 15 years' experience in investment banking and private equity. He is a chartered accountant by training having served his training contract with PriceWaterhouse. Subsequently he joined Deutsche Bank in 1997 where he gained investment banking experience primarily in corporate and project finance advisory work over a four year period. He has in the past also served as the Financial Director of Worldwide African Investment Holdings (Pty) Ltd and Director at Actis LLP, where he was part of a team responsible for Actis' Black Economic Empowerment funding unit, the Actis Africa Indigenous Fund.
Vuyisa is ably supported in an executive capacity by both Jacob Hinson, Chief Investment Officer and Frencel Gillion, Group Financial Director. With a combined experience of over 25 years in investment banking and private equity, their skill and expertise will prove invaluable in growing KTH.
Nthobakae Angel, co-chair of KTH commented, "We wish Vuyisa every success in his new role and have every confidence in his ability to fulfil the requirements expected of him."
As part of the organisational process, some of the interim governance structures put in place to ensure the successful conclusion and bedding down of the merger process, will be wound down. This will include the winding down of the merger committee which is envisaged will be completed by the end of the first quarter of next year. In addition, the short term executive responsibilities which Nkululeko Sowazi assumed to support the executive team pursuant to the resignation of the previous CEO, will also come to an end.