Former Rebosis Property Fund CEO, Andile Mazwai. Via rebosis.co.za/
CAPE TOWN - Rebosis Property Fund CEO, Andile Mazwai, has resigned on Wednesday, according to a statement.

The company has also stated that they will have to postpone their interim financial results to the 8th of May.

Subsequently, Rebosis shares fell down by more than 10.4%.

The shares stood at R7.41 at 10:00 GMT.

The current Executive Deputy Chairman Sisi Ngebulana will step in as interim CEO.

Executive Deputy Chairman Sisi Ngebulana


Mazwai has been at the head of the company since October 2017 but had to step down immediately due to personal reasons.

It added that it would postpone its interim results to May 8 and delay its dividend payment to 28 May.

About Andile

Andile is the CEO of the National Stokvel Association of South Africa (NASASA), according to Rebosis.

He is a Non-Executive Director of the Johannesburg Stock Exchange and of New Frontiers Property Fund.

He was formerly CEO of Barnard Jacobs Mellet Holdings before it was acquired by First National Bank in 2011.

ANOTHER RESIGNATION

Earlier on Wednesday Imperial Holdings Ltd accepted the resignation of group chief executive Mark Lamberti.

The CEO resigned after a recent judgment in which high court found in favour of an ex-employee and against Imperial and Lamberti.

Lamberti was found to have impaired dignity of an ex-employee during a conversation on 15th April 2015.

Lamberti on Monday also resigned from the Board of Business Leadership South Africa (BLSA).


-BUSINESS REPORT ONLINE