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Shanduka Group sees leadership changes

Published Sep 20, 2010


Cyril Ramaphosa, chairman of black-owned and managed investment holding company Shanduka Group, on Friday announced a number of leadership changes at the group that will see it through its next growth phase.

Ms Phuti Malabie is appointed Chief Executive Officer of the Group, while Kojo Mills is appointed Managing Director: Shanduka Africa Holdings.

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David Ngobeni is appointed Chief Financial Officer.

Ramaphosa said: "I am very pleased to report that Shanduka Group has grown significantly in the last ten years and am confident these changes will further bolster the growth of our business into the future."

Over the last six years Ms Malabie has been at the helm of Shanduka Energy, a role she managed with skill and understanding. She will continue to provide strategic direction to that division, Ramaphosa said.

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She is taking over from Kojo Mills, who has been acting CEO and is Managing Director of Shanduka Fund Managers.

Kojo, who is also one of the founding directors of Shanduka Group has been working very closely with the chairman in developing a long term succession strategy and Phuti was very early on identified as a key candidate the company wanted to groom.

Ms Malabie said: "I am humbled to be appointed to lead a team of talented people with diverse skills and expertise. I am truly excited to lead Shanduka in this next chapter of what already is an impressive era."

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"I feel very fortunate to succeed Mr Mills, who has been an inspiration in the way he led Shanduka Group including our expansion into other African countries."

Ramaphosa said: "Phuti's unique mix of strategic vision, passion and discipline, combined with her intimate understanding of the markets we operate in, make her the right candidate to become Shanduka's next CEO".

Mr Ramaphosa said: "Kojo is a pioneer with strong entrepreneurial skills. As a founding member of Shanduka Group, he played a critical role in establishing and growing the business and we would like to capitalise on those skills in the international business."

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The appointment of David Ngobeni as Chief Financial Officer follows on him having been with the company for two years as Financial Manager.

Before joining Shanduka, David was an investment banker with the Standard Bank Corporate and Investment Banking Division. He held a senior technical financial manager position in Structured Debt Finance.

"David is a problem solver and a motivator. He brings to the team a combination of strong technical as well as excellent leadership skills" said Ramaphosa.

"With these changes, I believe we are building on the strengths of our people and have thus further sharpened our focus to achieve our ambitious goals on the African continent," he added. - I-Net Bridge

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