Retail group Edcon loses two nonexecutive directors
Two Edcon nonexecutive directors resigned on Wednesday. They are former Absa deputy CEO Louis von Zeuner, who was appointed the designate chair of African Bank's "good bank" in March, and Coal of Africa CEO David Brown.
The retail group, whose brands including clothing chain Edgars and newsagents CNA, said in a statement both resigned due to increased time commitments required by other companies with which they are involved.
"The company is well under way in the replacement process and will announce the additional members to the board and the audit and risk committee in due course, once the requisite internal and regulatory processes have been concluded," Edcon's statement said.
Source: BDpro