Businessman Sipho Pityana has replaced Marc Wainer, the founder of SA’s third-largest real estate company by market capitalisation, Redefine Properties, as chairman. Pityana became the independent nonexecutive chairperson on Friday. Wainer will remain on the board as an executive director.  “The board of directors of Redefine welcomes Sipho and looks forward to his contribution to the company,” Redefine said in a statement. “The board thanks Marc for his valuable contribution, unstinting leadership and guidance since founding Redefine in 1999, and wishes him well in his new role.”  Pityana is also AngloGold Ashanti's and Onelogix's chairman, as well as an independent director at Absa Bank. He is the founder and chairman of Izingwe Capital, a privately held investment company. He is also the chairperson of the Council of the University of Cape Town, president of Business Unity SA and a director of Business Leadership SA. Wainer said he had enjoyed his tenure as chairman but his funct...

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