PRETORIA – Listed property fund Texton has appointed independent non-executive director Marius Muller as the fund's interim chief executive. 

This comes after the resignation of current chief executive Nosiphiwo Balfour effective from October 31. 

Texton did not provide any reason for Balfour's resignation, which was announced on Friday, but indicated that it would not affect the release of its financial results scheduled for September 28. 

Muller is the founder and chief executive of real estate advisory and consultancy practice Venator Capital and previously chief executive of Pareto, whose only shareholder was the Government Employees Pension Fund and which was a major investor in shopping centres across South Africa. 

Texton said yesterday its board looked forward to Muller's contribution to the company as interim chief executive, adding the process to appoint a permanent chief executive was under way. 

Shares in Texton rose 0.72 percent on the JSE on Monday to close at R5.57.

– BUSINESS REPORT