S AFRICA: Director switch at SABMiller
One director in, one director out at SABMiller
SABMiller has confirmed the addition to its board as one director has given his intention to retire.
In a filing to the Johannesburg Stock Exchange today (15 October), the UK-headquartered brewer confirmed that Mark Armour will become an independent non-executive director.
Armour, age 55, has been the CFO of Reed Elsevier Group since 1996, having previously been a partner in the London office of Price Waterhouse. From 2002 until 2004, he was chairman of The Hundred Group of Finance Directors.
Armour will join the board of SABMiller on 1 May, and will be appointed as a member of the Audit Committee.
Meanwhile, Lord Fellowes, who has been an independent non-executive director since March 1999, will not be seeking re-election, and will retire from the board at the Annual General Meeting in July. Lord Fellowes is currently the senior independent director and the chairman of SABMiller's Corporate Accountability and Risk Assurance Committee.
John Manser, who has been an independent non-executive director since 2001 and is chairman of the Audit Committee, will be appointed as the senior independent director, and Dr Dambisa Moyo, who has been an independent non-executive director since last May, will be appointed as chair of the Corporate Accountability and Risk Assurance Committee.
“I am saddened that we be losing Robert Fellowes from our board,” said SABMiller's chairman, Meyer Kahn. “He has been a diligent and committed director, and his support and contribution as our senior independent director has been remarkable. I am indebted to him for his friendship and dedication over more than a decade of service.”
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