Movers: Finance professionals take on new challenges

FINANCE PROFESSIONALS TAKE ON NEW CHALLENGES

After a year like 2020, these finance professionals have learnt to take every opportunity by the horns and are ready for the challenge of a career change.

Jason Quinn

Jason Quinn was appointed as interim group CEO of Absa in February, taking over from exiting CEO Daniel Mminele. Jason has been the group FD of Absa since August 2016 and was awarded the 2020 CFO of the Year for his work in this role.

Punki Modise has stepped into the role of interim FD of Absa. Punki joined Absa Group in 2008 and has held various senior management roles, including that of CFO of the retail and business banking division. Telkom appointed acting CFO Dirk Reyneke as its permanent group CFO in February. Dirk took over from exiting group CFO Tsholofelo Molefe in December 2020.

Deon Smith was appointed as the CFO of Thungela Resources in April, following its demerger from Anglo American. Deon has been serving as the CFO of Anglo American’s Coal South Africa division since July 2017. Investec appointed Marlé van der Walt as its FD in April. She replaces Stuart Spencer, who will continue to serve as the bank’s COO. She previously served as the CFO of Investec’s Specialist Bank. Emanuel Cristaudo has been appointed as Truworths International’s new CFO with effect from July. He will be taking over from Hermanus Smit, who has been serving as the interim CFO following David Pfaff’s resignation in December 2020. Emanuel has had extensive involvement at executive and director levels at Truworths’ main operating subsidiary in its Africa segment, where he was employed for over 16 years until 2013.

David moved on to become the CFO of TymeBank’s sister company, Tyme, in March, as well as country CEO of Tyme’s South African operations. “I am excited to join such an innovative and exciting company that will change banking as we know it,” David said. Denel appointed Thandeka Sabela as its acting group CFO in March. She takes over from Carmen le Grange, who resigned as group CFO in early March. Thandeka has been with Denel since November 2015.

Gary Altini will step down as the CFO of Takealot, along with its CEO Kim Reid, in July. Gary joined Takealot in October 2010 after serving as CFO for various businesses within the Naspers Group. Wescoal appointed Jubilant Speckman as its permanent group CFO in February. Jubilant has been acting as the group CFO since 1 September 2020 following the resignation of Izak van der Walt after three years as group CFO. "I am delighted and humbled by my appointment and grateful for the value placed on empowering the next generation of leaders,” Jubilant said.

Punki Modise Jubilant Speckman

Sharon Naidoo was appointed as TransUnion Africa’s new CFO in

Xolani Mbambo not scared of the challenges that lie ahead

Xolani Mbambo was appointed as the CEO of Grindrod Freight Services in February, following a successful tenure as the company’s FD. He was nominated for the 2020 CFO Awards. “I am looking forward to this role with much excitement, but I am under no illusion on the challenges that lie ahead,” Xolani says. He adds that he looks forward to driving the growth of the business by delivering on its strategy to unlock trade corridors in Africa. This will ensure that the products destined for export and import find the most efficient and cost effective corridors in which Grindrod operates. Before being appointed as the CEO, Xolani served in the company’s operations department as an executive director for a year. He says that the rationale behind the move from CFO to operations was to spend some time at the coal face with teams in various operations, to intimately understand the core drivers of those businesses and forge good relationships with the people who are vital in executing the company’s strategy. “I also used this time to reflect on the key issues and priorities to focus on in order to make a positive impact on the business when I get appointed as CEO.” l

Xolani Mbambo

Sharon Naidoo

February. “I’m looking forward to joining the leadership team of this dynamic business as we look to tackle the challenges and opportunities that will help our continent realise its potential,” said Sharon. She joins TransUnion from Ricoh Africa, where she served as CFO.

Former Afgri Group Holdings CFO Rivasha Maharaj was appointed as the FD of Omnia’s AGRI division in January. For her work as the CFO of Afgri, Rivasha was nominated for the 2020 CFO Awards.

Desmond Maharaj has resigned as the CFO of ArcelorMittal South Africa to pursue personal opportunities outside of the business. Desmond was appointed as the CFO in September 2018, taking over from Gerhard van Zyl, who had been acting as CFO following the resignation of Dean Subramanian in May 2018. Renergen appointed Brian Harvey as its new FD in May. “I am excited for the opportunity to be part of this dynamic team and look forward to contributing to the future continued success of Renergen,” Brian said. Brian takes over from Fulu Ravele. He joins Renergen from Resources Generation where he served as CFO.

D’Shorne Human was appointed as the new CFO of the South African Forestry Company in April. Prior to joining Safcol, D’Shorne served as the group FD of Pearlstock Holdings. Sandile Ntsele was appointed as the CFO of Liquid Intelligent Technologies’ South Africa operations in April. He says: “I look forward to joining Liquid South Africa’s dynamic leadership team and leading its local finance department, and contributing to the organisation’s future success as it progresses to the next phase of its strategy.” Sandile previously served as the CFO for MTN South Africa.

Hulisani appointed its CFO Masibulele Dem as its interim CEO in May. Masibulele, who was nominated for his role at the 2019 CFO Awards, replaces Marubini Raphulu, who resigned in April. Masibulele was appointed CFO of Hulisani in July 2017. Sam Odendaal was appointed as the new group FD of Raubex Group in June. He took over from James Gibson, who resigned in May. Sam joined Raubex in July 2007 as the financial manager of its construction division.

Jasco Electronics appointed its CFO, Warren Prinsloo,as the company’s new CEO in March. Liska Prigge, a former divisional FD within Jasco ICT-Enterprise, took over from Warren as CFO. Warren has been the CFO of Jasco for 15 years and replaced interim CEO Pete da Silva.

Sandile Ntsele

Raoul Gamsu assumed the dual role of CEO and CFO of Consolidated Infrastructure Group in February. This follows the resignation of CFO Cristina Teixeira in October 2020. Raoul will serve in his dual role until the new business rescue plan is in place. Hulamin appointed Meganathan Gounder as its new CFO in April. His appointment follows the resignation of acting CFO Laren Farquharson in March. Meganathan has held various senior finance roles within the Illovo Sugar Group, including FD. Ric Sieni took on the combined role of CEO and FD at Trencor in March, following the retirement of CEO Hennie van der Merwe. Ric was appointed as FD of the company in march 2016 and has been with the company since 1982. BNP Paribas Personal Finance South Africa appointed Balraj Dev as its new CFO and deputy CEO in May. Balraj, who served as the chief risk officer at BNP Paribas for almost five years, took over from Mariné van Brakel as CFO. Marine has been appointed as the COO of the company. African Bank CFO Gustav Raubenheimer was appointed as the company’s interim CEO in January, following the resignation of Basani Maluleke to pursue other career opportunities. Conduit Capital appointed Bianca Yan as the FD of the company in February. She took over from Lourens Louw, who stepped down as the FD of Conduit Capital to pursue a new role at Constantia Insurance Group, a wholly-owned subsidiary of Conduit Capital. Nigel Naidoo was appointed as the new FD of Crookes Brothers in May. He took over from Greg Veale, who stepped down in April to take up a position as CEO of a retail group. Nigel has served as the company’s group financial manager for the past seven years. Transcend Residential Property Fund appointed Nicholas Ian Watchorn as its new CFO in March. Nicholas took over from Myles Kritzinger, who was appointed as CEO in January and served in both roles since then. Prior to his appointment, Nicholas was a transactor in the commercial property finance division at Absa Corporate and Investment Bank.

Masibulele Dem Warren Prinsloo

Kobus Gertenbach ready to put his skills to work as CEO

Kobus Gertenbach has been promoted to the role of Premier FMCG’s CEO. He has served as the company’s group CFO since 2011. “It is a big responsibility to steer the business for the next few years, and I’m quite excited to take on the challenge,” he says. “Personally, one invests decades in building one’s skills, and it is a great opportunity to now put those skills to work and see if I can make a success of it.”

He adds that it’s not the appointment that is the goal, but to make a success of the opportunity. “I have a highly skilled and experienced executive and wider leadership team supporting me, and we all have an opportunity to see how successful we can make Premier.” Kobus will be taking over from Tjaart Kruger, whom he has worked closely with as the group CFO for the last decade to map and execute Premier’s strategic direction. “Although the last decade already may seem like a very long time, there is a significant amount of unfinished business to reach the goals we set for the business,” Kobus says. Kobus suggests that exciting times lie ahead for the company, and together with the exco and the wider leadership team, he plans to take Premier to new heights in the coming years. “We have a lot more room for growth in our dynamic marketplace.” l

Kobus Gertenbach

Balraj Dev

James Lenton stepped down as the group CFO of Hammerson in January. “Following successful completion of the rights issue, VIA Outlets disposal and induction of the new chair of the board and CEO, I feel now is the right time to look for a new opportunity. I remain fully committed in the role until my successor is in place,” James said. He joined Hammerson in September 2019 and was appointed as CFO on 1 October 2019.

Joanne Tanner resigned as the group FD of Tarsus in February. She has been with the company for 10 years and will officially step down from her role in August. She was appointed as group FD in February 2019. Bata South Africa appointed Saket Mohta as its new FD in February. Before joining Bata South Africa, Saket worked as Bata India’s financial controller.

Mohamed Bhyat was appointed as the new CFO of Havas in January. He took over from Andrea Bottega. “Havas’s culture is centred on the delivery of excellent work to clients, and the business’s commitment to transformation, diversity and inclusion is exemplary, and I look forward to playing my part in making a meaningful difference to our clients, our people and South Africa,” Mohamed said.

Efora Energy appointed Thabang Monametsi as its interim group CFO and FD in April while the company searches for a suitable candidate to take over the role as group CFO. Thabang joined Efora Energy in 2020 from Barloworld and was in the role of group financial manager of a subsidiary prior to the appointment. Pieter Watson was appointed as the new FD of Nutritional Holdings in April. Pieter has more than 20 years’ experience in roles from financial manager to FD and CFO in diverse industries from cosmetics and pharmaceuticals to IT and media companies. Vivo Energy’s CFO designate Douglas Lafferty took on the role of permanent CFO in March. Douglas took over from Johan Depraetere. Prior to joining the group, Douglas spent three years as CFO and executive director for Williams Grand Prix Holdings. Travers Cape was appointed as the new CFO and interim company secretary of Nu-World Industries in February. His appointment followed the resignation of Bruce Hall Haikney as the company secretary. International project developer juwi Group appointed Carlos Mateos as the new FD of its EMEA region in January. Carlos joined juwi South Africa in 2019 as the CFO.

Rina de Jager resigned as the FD of Imbalie Beauty in February. She joined the company in 2018 following the resignation of interim FD Daleen Oosthuizen.

WG Wearne appointed Norman Janse van Rensburg as its new FD in January. Norman has been working

Joanne Tanner Travers Cape

for Barloworld in various divisions for the last 20 years.

South African Airways appointed Fikile Mhlontlo as its interim CFO in April. Fikile recently served as the interim group CFO of Concur Construction and before that, served as an independent consultant.

The Eskom Pension and Provident Fund appointed its CFO Shafeeq Abrahams as its new CEO in April. He took over from Linda Mateza. Shafeeq has held various leadership roles in finance at the EPPF.

Khathutshelo Ramukumba resigned as the CFO of the South African Post Office in January for personal reasons. Khathutshelo was appointed as CFO in October 2020 and had only served as the company’s CFO for three months.

The new council of the National Arts Council of South Africa appointed Reshma Bhoola as its acting CFO in March. The appointment follows the suspension of the NAC’s CFO and CEO, pending an investigation in relation to the management of the Presidential Employment Stimulus Programme.

South African Johan Gericke was appointed as executive VP and CFO of Finance of America in April. Johan most recently served as the chief of staff of Capital One’s commercial banking division. l