Fin24

Coronation CEO to step down

2012-02-17 10:03

Johannesburg - Listed independent fund manager Coronation Fund Managers [JSE:CML] announced on Friday that its CEO Hugo Nelson will step down on January 31 2013.

Chief operating officer Anton Pillay has been appointed as CEO designate.

Shams Pather, chairperson of the board of directors, said: "Hugo has indicated to the board his intention to step down as chief executive at a mutually convenient time to pursue his personal goals. 

"We reluctantly accepted his decision. He has contributed significantly to the success of the firm; as an analyst, portfolio manager and most recently as chief executive.

"We are delighted to appoint Anton as CEO designate. We have worked with him for many years, and he enjoys the trust and confidence of the board and executive."

Nelson said: "I'm satisfied that we've accomplished what we've set out to do as an executive team and it's now an opportune time for me to think about what I may want to do next. 

"I don't have any definite plans as yet. It'll be good to spend more time with my family as we look towards the future."