Board of

directors

executive DIRECTORS

A D MURRAY (59)

BA, CA

Appointed: 2007

Member of: Risk and social and ethics committees

Meetings attended by invitation: Audit, remuneration and nomination committees

Joined the group: 1985

Doug, our CEO, joined the group in 1985, was appointed to the operating board in 1997 and was appointed as an executive director of The Foschini Group Limited in 2007. Doug’s extensive retail experience includes holding the positions of Managing Director: Pages (subsequently rebranded Exact) and Managing Director: American Swiss Jewellers. He was Retail Director for the group for 10 years prior to his appointment as CEO in January 2008.

A E THUNSTRöM (45)

B Comm (Hons Acc), CA(SA)

Appointed: 2015

Member of: Risk committee

Meetings attended by invitation: Audit and social and ethics committees

Joined the group: 2015

Anthony is currently the CFO. He joined the group and was appointed to the operating board in 2015. Prior to this, Anthony had 21 years of professional services experience with KPMG where he held various regional and pan‑African leadership positions, including those of Chief Operating Officer for KPMG Africa and board member of KPMG South Africa.

non-executive DIRECTORS

M LEWIS (57)

Chairman (appointed 19 June 2015)

BA (Econ) (Hons)

Appointed: 1989

Member of: Nomination and remuneration committees

Chairman of: Nomination committee

Meetings attended by invitation: Risk and audit committees

Michael has been involved in investment management since 1983, having worked at Ivory & Sime and Lombard Odier. He is Chairman of Oceana Investment Corporation Limited (UK), The Foschini Group Limited (South Africa) and Strandbags Limited (Australia). He is also a partner of Oceana Investment Partners (UK) and a director of Histogenics Corporation (US).

S E ABRAHAMS (77)

FCA, CA(SA)

Appointed: 1998

Member of: Audit and nomination committees

Chairman of: Audit committee

Open invitation: Risk committee

Also a director of a South African company: Investec Bank Limited

Sam is a very experienced director. He was formerly an international partner and South African managing partner of Arthur Andersen. Sam is currently the Chairman of Investec Securities (Pty) Ltd and Chairman of The Victor Daitz Foundation, one of the largest charitable foundations in South Africa.

G H DAVIN (60)

B Comm, B Acc, CA(SA), MBA

Appointed: 2015

Graham is a chartered accountant and a career banker with extensive international financial and broad business experience. Graham was a director of Investec for 16 years and of Bank Insinger de Beaufort NV, a Dutch private bank. He was responsible for the listing of Investec on the JSE and of Insinger on the Luxembourg Stock Exchange. In 2003, Graham led the management buyout of United Trust Bank, a fast-growing UK specialist bank of which he is CEO.

non-executive DIRECTORS

PROF F ABRAHAMS (53)

B Econ (Hons), M Comm, D Comm

Appointed: 2003

Member of: Remuneration and social and ethics committees

Chairperson of: Social and ethics committee

Also a director of South African listed companies: Clicks Group Limited, Iliad Africa Limited and Lewis Group Limited

Fatima is a senior part-time professor in industrial psychology at the University of the Western Cape (UWC) and a registered industrial psychologist. She was previously Chairperson of the Department of Industrial Psychology and Dean of the Faculty of Economic and Management Sciences at UWC. She is known for her academic work and has presented papers at international and national conferences. She has also published a number of accredited articles and academic texts (focusing on human resources issues). In addition, she was a non-executive director of Transnet, B2B Africa (Pty) Ltd and Chairperson of Victoria & Alfred Waterfront Holdings. She has served on the audit and risk committees, transformation and remuneration committees of many of the companies she was involved in, and built up sound business experience over the years.

D Friedland (63)

B Comm, Certificate in the Theory of Accountancy, CA(SA)

Appointed: 2013

Member of: Remuneration, audit and risk committees

Also a director of South African listed companies: Pick ’n Pay Stores Limited and Investec Limited

Also a director of a foreign listed company: Investec PLC

David is a chartered accountant with extensive audit experience of a broad range of retail listed companies. He served as international partner at Arthur Andersen from 1990 and was a partner at KPMG from 2002. David was Head of Audit and Risk at KPMG (Cape Town) and was the lead audit partner for several listed companies. In 2013, he retired as a partner at KPMG and was appointed to the boards of Investec Limited and Investec PLC in March 2013, serving as the group audit committee Chairman.

E OBLOWITZ (58)

B Comm, CA(SA), CPA(Isr)

Appointed: 2010

Member of: Audit, remuneration and risk committees

Chairperson of: Remuneration and risk committees

Also a director of a South African listed company: Trencor Limited

Eddy has considerable audit and business advisory experience, having spent 21 years in professional practice, most notably as a senior partner of the Cape Town, Durban and Port Elizabeth offices of Arthur Andersen. In addition, he served as a member of the firm’s worldwide Retail and Distribution Industry Team. He is currently the Executive Chairman of Stonehage Fleming South Africa, which provides multifamily office, wealth management and advisory services to an extensive local and international client base.

non-executive DIRECTORS

B L M MAKGABO-FISKERSTRAND (42)

Appointed: 2012

Member of: Audit and social and ethics committees

Also a director of a South African listed company: Sun International Limited

Tumi is founder and executive director of AfricaWorldwide Media and director of Tumi Makgabo Enterprises, focusing on enterprise development in South Africa and across the African continent. In addition, Tumi served for two years as the Vice Chairperson of the World Economic Forum’s Global Agenda Council for Women’s Empowerment and as a member of its Council on Africa. In 2008, she was nominated to the World Economic Forum’s Forum of Young Global Leaders, which is a multistakeholder community of exceptional leaders below the age of 40 selected from around the world. She also serves as a non‑executive director of South African Tourism and was appointed a member of the Department of Arts and Culture’s reference group for Africa Month in 2015.

N V SIMAMANE (57)

BSc (Biochem) (Hons)

Appointed: 2009

Member of: Audit and social and ethics committees

Also a director of South African listed companies: Cashbuild Limited, Oceana Group, Hollard Insurance, Hollard Life Insurance, SA Post Office

Nomahlubi has extensive business, marketing and communications experience, having previously held the positions of Marketing Manager at Unilever, Marketing Director of British American Tobacco and Managing Director of BLGK Bates Advertising Agency. She is currently the CEO of Zanusi Brand Solutions, a branding consultancy that she founded in 2001, and a director of various South African companies including Ancestral Connect, Combined Artistic Productions, Digital Space Content Agency (DSCA), Heads Up Effective Market Focus and PNB Investments. She has worked in the United States and Kenya and has been recognised as a seasoned business woman, having won two Business Women of the Year Awards in 2009. She was recently named the 2013 Enterprising Woman in Fort Lauderdale, Florida, USA.

R Stein (67)

B Comm, CA(SA)

Appointed: 2015

Member of: Risk and nomination committee

Meetings attended by invitation: Audit committee

Ronnie was previously our CFO. He retired from this position at the end of June 2015 after serving 19 years with our group. Prior to joining our group, he was an accountant and auditor in public practice. He was a partner at Kessel Feinstein for 15 years. Following his retirement, Ronnie remains on the board in a non-executive capacity.

COMMITTEES

AUDIT COMMITTEE

S E Abrahams (Chairman)
D Friedland
B L M Makgabo-Fiskerstrand
E Oblowitz
N V Simamane
M Lewis (by invitation)
A D Murray (by invitation)
R Stein (by invitation)
A E Thunström (by invitation)

REMUNERATION COMMITTEE

E Oblowitz (Chairman)
Prof F Abrahams
D Friedland
M Lewis
B L M Makgabo-Fiskerstrand
A D Murray (by invitation)

RISK COMMITTEE

E Oblowitz (Chairman)
D Friedland
A D Murray
R Stein
A E Thunström
S E Abrahams (by invitation)
M Lewis (by invitation)

NOMINATION COMMITTEE

M Lewis (Chairman)
S E Abrahams
R Stein
A D Murray (by invitation)

SOCIAL AND ETHICS COMMITTEE

Prof F Abrahams (Chairperson)
B L M Makgabo-Fiskerstrand
A D Murray
N V Simamane
A E Thunström (by invitation)