Battered EOH buffs up with Fatima Newman as new chief risk officer
DURBAN – JSE-listed EOH Holdings has bolstered its executive team by appointing Fatima Newman as its chief risk officer and executive director, effective from August 1.
The group said on Friday that Newman had a proven pedigree with 25 years of experience as a strategic leader of risk, compliance, regulatory and governance oversight in banking and financial services, stockbroking, asset management and corporate finance.
EOH chairperson Dr Xolani Mkhwanazi said Newman would bring much-needed skills into the group.
“I am very pleased that Fatima is joining the board as her skill-set and uncompromising commitment to good governance will complement the recent appointments of Andrew Mthembu, Michael Bosman and Anushka Bogdanov as independent non-executive directors,” Mkhwanazi said. The appointment of Newman follows the appointment of the three independent non-executive directors in June in an effort to make the board compliant with the King Code of Corporate Governance.
Newman is expected to bring a wealth of experience to the board as she was employed as the executive for business risk management and compliance at MTN Group, responsible for the strategic lead in the development and implementation of the business risk management and compliance, ethics and forensic investigation agendas, a role she held for two years.
“Before that she held roles at Absa CIB as head of compliance and at Macquarie First South as head of legal compliance. Fatima joined the EOH management team and executive committee on April 1, and played a meaningful role in the forensic investigation lead by ENSafrica and the interim report shared with the market on July 16,” the group said.
In July former board members Pumeza Bam, a non-executive director; Zunaid Mayet, former chief executive of NexTec, and Rob Godlonton, former chief executive of ICT business resigned from the group.
The share price traded on a positive territory for the better part of Friday, up by 1.59 percent on the JSE to R16.62 a share.
EOH is still recovering from a corporate scandal after allegations of corruption emerged.