With all the excitement of Steinhoff’s "accounting irregularities" and Naspers’s controversial payments to ANN7 and the SABC the announcement by Lewis that its independent nonexecutive chairman David Nurek had finally retired, almost went unnoticed. Although formally described as independent, Nurek had been on the board since the company was listed in 2004. The furniture retail group announced Nurek’s departure at the end of May, but said it would be a "managed succession process", which meant no one was in a rush.Although a replacement chairman, Hilton Saven, was announced at the same time, it seems the board needed six months to find a suitable candidate to succeed Saven as chairman of the audit committee. On November 30, Lewis announced it had found the suitable candidate. Duncan Westcott was appointed an independent nonexecutive director and member of the audit committee with immediate effect. Westcott, who is to chair the audit committee, is a former partner of PwC, which has a...
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