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Van Zyl to stay on at Sanlam until year-end

8 Jun 2015

Sanlam CEO Dr Johan van Zyl will remain employed by Sanlam until the end of the year, but will officially retire with effect from June 30, the company announced on Thursday, 4 June.

Dr Johan van Zyl

In September last year the company said Dr van Zyl would retire during 2015 and would be replaced by Ian Kirk with effect from July 1.

Sanlam said Dr van Zyl would focus on specific projects during this period. The board agreed to bring forward the final measurement of his remuneration arrangements to coincide with the end of his tenure as group CEO.

"The vesting of the applicable restricted shares will be determined after the finalisation of the group's 2015 interim results," Sanlam said.

Sanlam also announced that Arun Duggal has resigned from the board. Hubert Brody, current CE for group strategy and projects, had been appointed new CE of Sanlam Personal Finance.

André Zeeman would retire at end June as chief actuary and group risk officer and would be replaced by Anton Gildenhuys, the current CE of Sanlam Personal Finance Actuarial.

At 9.34am Sanlam's share price was down 1.12% at R66.85.

Source: BDpro

Source: I-Net Bridge

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