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Another Group Five director quits

Companies
Pretoria – Another board member at listed construction and engineering company Group Five has resigned.

It reported on Friday that non executive director Babalwa Ngonyama, who was chairperson of Group Five’s audit committee, had resigned with immediate effect.

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Group 5 offices in Woodmead North of Johannesburg.photo by Simphiwe Mbokazi

Her resignation follows that of non executive director and remuneration committee chairperson Mark Thomson effective from April 6.

A number of executive committee members have also resigned or left Group Five since the group reported in February that it had initiated a restructuring process.

The group announced in February that chief executive Eric Vemer would be leaving the company “within the next few weeks”, while Willie Zeelie, then an executive committee member and executive director of the engineering and construction cluster, would be leaving the company at the end of March, but would continue working with the group for a further 12 months in terms of a consultancy agreement.

Read also: Group Five retrenches

Jesse Doorasamy, an executive committee member and head of human resources, subsequently resigned, effective from the end of March, while the resignation of group executive committee member and head of investment and concessions, Jon Hillary, is effective from the end of next month.

Group Five on Friday thanked Ngonyama for her contribution to the group over the past three years.

BUSINESS REPORT

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