David Nurek will retire from the board at the AGM to be held on January 30
12 August 2024 - 15:50
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Clicks has named Mfundiso “JJ” Njeke, a former chair of the SA Institute of Chartered Accountants, as its chair.
Njeke, who co-founded and served as group MD of Kagiso Trust Investments, will replace independent nonexecutive chair David Nurek upon his retirement from the board, at the AGM planned for the end of January.
Nurek has served on the Clicks board since 1996.
“JJ’s appointment is part of the structured succession plan implemented in 2021 to refresh the composition of the board through the phased retirement of long-tenured directors and the appointment of new board members,” Nurek said.
“After a robust selection process we are pleased to appoint a new chair from within the ranks of the board, which will ensure continuity in the leadership of the group.”
Njeke, who has been a nonexecutive director and chair of Motus Holdings since 2018, was appointed to Clicks’ board and audit and risk committee in 2020 and has served as the chair of the audit and risk committee and lead independent director since 2022.
On Monday, SA’s biggest pharmacy retailer announced that Njeke, who is also an independent nonexecutive director at Datatec and Delta Property Fund, would leave the Delta board at the end of August as he prepares to focus on his new role.
Clicks added that Njeke planned to reduce his external duties even further during the next year.
“David has served the board with distinction over the past 28 years. He has led the board during a period of unprecedented change and growth in the business and we thank him for his astute and decisive leadership,” Njeke said in a statement.
“It is an honour to succeed David and to be appointed chair of a company of the stature of the Clicks Group.”
In July, Clicks announced it was going ahead with the disposal of its shareholding in its pharmaceutical manufacturing subsidiary, Unicorn Pharmaceuticals.
The move follows the judgment by the Constitutional Court in March 2023 in the Independent Community Pharmacy Association vs Clicks Group case, and the referral to the director-general of the health department to determine the sanction.
As part of a constructive engagement process with the director-general and the health department, Clicks proposed to regularise its position by the group divesting its total shareholding in Unicorn Pharmaceuticals. The director-general accepted this proposal on June 27, Clicks said.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Clicks names JJ Njeke as incoming chair
David Nurek will retire from the board at the AGM to be held on January 30
Clicks has named Mfundiso “JJ” Njeke, a former chair of the SA Institute of Chartered Accountants, as its chair.
Njeke, who co-founded and served as group MD of Kagiso Trust Investments, will replace independent nonexecutive chair David Nurek upon his retirement from the board, at the AGM planned for the end of January.
Nurek has served on the Clicks board since 1996.
“JJ’s appointment is part of the structured succession plan implemented in 2021 to refresh the composition of the board through the phased retirement of long-tenured directors and the appointment of new board members,” Nurek said.
“After a robust selection process we are pleased to appoint a new chair from within the ranks of the board, which will ensure continuity in the leadership of the group.”
Njeke, who has been a nonexecutive director and chair of Motus Holdings since 2018, was appointed to Clicks’ board and audit and risk committee in 2020 and has served as the chair of the audit and risk committee and lead independent director since 2022.
On Monday, SA’s biggest pharmacy retailer announced that Njeke, who is also an independent nonexecutive director at Datatec and Delta Property Fund, would leave the Delta board at the end of August as he prepares to focus on his new role.
Clicks added that Njeke planned to reduce his external duties even further during the next year.
“David has served the board with distinction over the past 28 years. He has led the board during a period of unprecedented change and growth in the business and we thank him for his astute and decisive leadership,” Njeke said in a statement.
“It is an honour to succeed David and to be appointed chair of a company of the stature of the Clicks Group.”
In July, Clicks announced it was going ahead with the disposal of its shareholding in its pharmaceutical manufacturing subsidiary, Unicorn Pharmaceuticals.
The move follows the judgment by the Constitutional Court in March 2023 in the Independent Community Pharmacy Association vs Clicks Group case, and the referral to the director-general of the health department to determine the sanction.
As part of a constructive engagement process with the director-general and the health department, Clicks proposed to regularise its position by the group divesting its total shareholding in Unicorn Pharmaceuticals. The director-general accepted this proposal on June 27, Clicks said.
gumedemi@businesslive.co.za
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