DURBAN - Tongaat Hulett has announced the resignation of its board chairperson, Louis von Zeuner.
It said in a statement that Von Zeuner, who was chairperson and non-executive director of the board, cited a change to his personal circumstances as the reason for his resignation. Von Zeuner will remain on the board to assist with a smooth transition and handover until June 30.
“Von Zeuner will also resign as an independent non-executive director of the company effective 30 June 2022. The board has begun the process to identify a suitable replacement and shareholders will be advised as soon as an appointment has been made,” the company said.
It said David Noko will assume the role as interim chairperson.
“Noko has served as lead non-executive director on the Tongaat board since 1 July 2020 and is currently the lead independent non-executive director.
“Noko has an HND in mechanical engineering, an MDP and an MBA, and is the lead adviser at his consultancy company, ESG Advisory Limited. He was executive vice- president at AngloGold Ashanti and has served as CEO of Air Chefs and managing director and CEO of De Beers Consolidated Mines Limited. He served on the boards of several prominent companies, is a chartered director, a member of the Institute of Directors and is chairman of the council of the University of the Free State,” Tongaat Hulett said.
Tongaat Hulett CEO Gavin Hudson thanked Von Zeuner for his leadership, guidance and support during the difficult time that the company faced when he took over the role as chairperson.
“We wish him every success in his future endeavours. In welcoming Mr Noko as the interim chairman, we take comfort that our efforts to complete the turnaround and recapitalisation will benefit from an exceptional depth of management expertise on the board. We remain committed to the recapitalisation process, which we believe will protect intrinsic shareholder value and create a legacy for the half a million people dependent on the existence of Tongaat Hulett across the Southern Africa Development Community,” he added.