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Molefe steps down from Eqstra board

Nov 17 2010 16:53 I-Net Bridge

Company Data

Eqstra Holdings Ltd [JSE : EQS]

Last traded R7.15
Change R0.10
% Change 1.42%
Cumulative volume 476,389
Market cap R3.06bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

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Johannesburg - Capital equipment group Eqstra Holdings [JSE:EQS] said on Wednesday that Popo Molefe, its non-executive director, had resigned from the board "due to other demanding business engagements".

Molefe, who joined Eqstra's board in 2008, is the CEO of investment house Lereko Mobility, as well as the non-executive chairperson of PetroSA and Armscor.
 
Molefe represented Lereko, a major black empowerment shareholder in Eqstra.
 
Eqstra also said that Mike Barnes, CEO of the MCC group of companies, Eqstra's wholly-owned subsidiaries, had retired with effect from December 31 2010.
 
Barnes, the company said, would continue to serve as a non-executive board member of MCC.
 
Erich Clarke, the group's current chief financial officer (CFO), had been appointed as the new CEO of MCC, with effect from January 1 2011.
 
Clarke, who will remain an executive board member of Eqstra, will be replaced by Jannie Serfontein, the new CFO and executive director of the group with effect from January 1 2011.

 
 
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