Group Five appoints Themba Mosai as CEO
Mosai’s confirmation comes after Allan Gray asked for the board to be reconstituted after it had ‘lost faith’ in it
Group Five has appointed interim CEO Themba Mosai as CEO three months after the construction and engineering group suddenly announced in late February that then CEO Eric Vemer would "be leaving … in the next few weeks". Mosai’s confirmation comes after Allan Gray said last week it had asked for the board to be reconstituted after it had "lost faith" in it. The fund manager said clients held 25% of the group. It wanted to call an extraordinary general meeting after what Group Five said was "a disagreement on the future direction of the company". Meanwhile, Kushil Maharaj has been appointed group executive committee (exco) member of investments and concessions. This operation develops and operates toll roads in SA, Zimbabwe, Hungary and Poland. "I look forward to working with the board and the highly competent management team in place. Our immediate priorities are to deliver stakeholder value by right-sizing our construction business, effectively managing risk, executing on the volunt...
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