Christo Wiese steps down as Brait chair

FILE PHOTO: South African magnate Christo Wiese, Steinhoff's largest shareholder and chairman, listens during an interview in Cape Town, South Africa, September 27, 2016. Picture taken September 27, 2016. REUTERS/Mike Hutchings/File Photo

CAPE TOWN- Investment company Brait told their shareholders on Wednesday morning that South African billionaire businessman Christo Wiese has retired from his role as a non-executive chairperson to the investment company.

It was also announced that Wiese will also step down as a non-executive director of Brait Investee company in New York.

Wiese reasons are “time constraints”, his retirement came into effect on Tuesday May 8.

“Dr Wiese will retain his non-executive directorship of Brait and has,effective 8 May 2018, appointed Mr Jacob Wiese as an alternate.”

Chris Seabrooke, a non-executive director of Brait and chairperson of its audit committee has been appointed as non-executive director to the boards of Brait’s four main investee companies. They are Virgin Active, Premier, Iceland Foods and New Look.

Seabrooke will also take over as a non-executive chairperson of Brait.

The investment company stock on the JSE shareprice was trading 1.17% at R38 in the morning.

Wiese did announce last week he is suing Steinhoff to recover R59bn from his sale of Pepkor.

Steinhoff said they are looking through the claim.

Photo Credit-

Be the first to comment

Leave a Reply

Your email address will not be published.