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Abil execs to step down

Cape Town - Abil and African Bank [JSE:ABL] executive directors Antonio Fourie and Thamsanqua Sokutu are retiring in February, according to a SENS report on Thursday.

Ellerine CEO Fourie resigned from his post and will also retire as an executive director of Abil and African Bank.

"In January 2013, Fourie indicated that he would like to step down from his role as CEO of EHL by the end of the year, after overseeing the significant transformation of EHL over the previous four years."

Fourie, who served his notice in November last year, will also retire by rotation as an executive director of Abil and African Bank with effect from 6 February 2014.

"The boards of Abil and African Bank express their appreciation and thanks to Toni for his valued contribution, passion and commitment to the operations of both African Bank and EHL since his appointment in 2003, and wish him well for the future."

"An announcement will be made within the next month with regard to the appointment of the new CEO of EHL."

The board of Abil also announced that its executive director Thamsanqua Sokutu remains on an extended leave of absence since September 2013 due to health reasons.

Sokutu, who is making a steady recovery, retires by rotation as an executive director of Abil and African Bank boards with effect from 6 February 2014.

"Tami has indicated his intention to step down and leave the group so as to focus on his well being".

"The boards thank Sokutu for his valued contribution as a member of the Boards over the last ten years and the pivotal role he had in the evolution of this industry. The boards wish him a speedy recovery."


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