Nedbank Board identifies Ruel Khoza’s replacement

 

The Nedbank and Old Mutual boards have found a replacement for Ruel Khoza, the incumbent chairperson whose comments on a few issues of national interest have rubbed some politicians the wrong way/have not gone down with some politicians.
The boards named Khoza’s successor as Vassi Naidoo who will join the board as non-executive director with effect from May 1 2015.
Regarding Naidoo’s credentials, “We are delighted to welcome Vassi Naidoo to our board. Vassi’s extensive experience of banking and financial services and experience in Africa will benefit Nedbank and his position on the company’s own board will provide us with additional insight into these important areas of the group’s business.”
Naidoo is qualified as a South African and UK chartered accountant and retired from Deloitte’s London office at the end of November 2014.
After serving nearly nine years on the board, Khoza will be retiring.