New CEO for Sanlam Investments

Cape Town - Sanlam Investments CEO Johan van der Merwe has stepped down nearly 14 years after being at the helm, the company announced on Friday.

Sanlam Investments chief operating office Robert Roux will assume the position on November 1 2015, having been in his current role for a decade.

This follows the announcement in June that Ian Kirk would take over the Sanlam Group CEO position on July 1, after Johan van Zyl announced his retirement.

Van der Merwe is credited with having achieved sustained success over his tenure and for the substantial value he has contributed to the Sanlam group [JSE:SLM], it said in a statement.

He will continue to serve as a non-executive director on the Sanlam Investments' board of directors as well as a number of other subsidiary boards on which he currently serves as non-executive director.

"The board of directors of Sanlam wishes to thank Mr Van der Merwe for his contribution since June 2002 and congratulates Mr Roux on his new position and looks forward to his valuable contribution."