– South Africa, Sandton – FirstRand Bank Limited (LSE:96CF), announces that Lauritz Lanser Dippenaar will retire as board chairman and director with effect from 31 March 2018 and William Rodger (Roger) Jardine will be appointed independent non-executive chairman of the board with effect from 1 April 2018. Mr Jardine will resign from his current position as Chief Executive Officer of Primedia Holdings (Pty) Ltd and Primedia (Pty) Ltd, effective 31 March 2018.
The bank is fortunate to have someone of Mr Jardine’s experience and calibre on its board and believes that following 13 years of service as a non-executive on various FirstRand Bank and FirstRand Limited boards and committees, he has the necessary business insight and leadership skills to chair the board going forward, and his tenure ensures a seamless succession process. Prior to joining the FirstRand Limited board in 2010, Mr Jardine served on the FirstRand Bank board for six years. He was appointed chairman of the Directors Affairs and Governance Committee in 2007 and has been a member of the Large Exposures Committee since 2004.
The board would like to thank Mr Dippenaar for his long and distinguished service to the bank. He was one of the founding members of FirstRand, served as group CEO from the creation of FirstRand in 1998 until he stepped down in 2005. He was appointed as non-executive chairman in 2008 and, in total, has been a member of the FirstRand Bank and FirstRand Limited boards for 19 years. Under Mr Dippenaar’s chairmanship, FirstRand has navigated many challenges with resilience and has consistently produced strong growth in shareholder value.
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