MSM: MASSMART HOLDINGS LIMITED - Notice Of Change To The Board Directorate: Appointment Of CEO
MSM: MASSMART HOLDINGS LIMITED - Notice of change to the Board Directorate: Appointment of CEO Notice of change to the Board Directorate: Appointment of CEO Massmart Holdings Limited (Incorporated in the Republic of South Africa) Company registration No. 1940/014066/06 JSE Code: MSM ISIN: ZAE 000152617 ("Massmart" or the "Company") NOTICE OF CHANGE TO THE BOARD DIRECTORATE In accordance with paragraph 3.59 of the JSE Limited Listings Requirements, shareholders are advised of the following: Appointment of Chief Executive Officer The Board of Directors of Massmart (the "Board") is pleased to announce the appointment of Mitchell Slape as Chief Executive Officer and Executive Director of the Company with effect from the 1st day of the month following the date of approval and grant of his intra-company transfer permit and visa to work in South Africa (the "Effective Date"). Mitchell succeeds Guy Hayward who in May 2019 indicated his intention to resign and step down as Chief Executive Officer and Executive Director. Guy will therefore step down as Chief Executive Officer of Massmart on the Effective Date but will remain in Massmart until later in the year to ensure an orderly handover and transition. Mitchell is a career retailer and has been with Walmart since 1995. He has extensive leadership experience across a range of retail formats and Walmart markets, including the United States, Japan, India and Mexico. Mitchell´s prior roles include: Chief Operating Officer, Seiyu (Walmart Japan); Chief Operating Officer, Bharti Retail Ltd (India); Senior Vice President, Superama Supermarkets (Walmart de Mexico); Senior Vice President, International Business Development (Walmart International) and Vice President, International Real Estate & Construction (Walmart International). Mitchell holds a Bachelor of Business Administration in Finance and Economics from Wichita State University and a Master´s Degree in International Finance from Thunderbird, the American Graduate School of International Management, both in the United States of America. Mitchell´s well established Walmart network and extensive retail experience uniquely positions him to leverage the relevant resources needed to elevate Massmart´s operating performance. The Board and Massmart Executive Committee welcome Mitchell to Massmart and wish him all of the best. 23 May 2019 Sponsor JP Morgan Equities South Africa (Pty) Ltd Date: 23/05/2019 09:32:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.