Marcel Golding’s new enterprise
The former trade union leader’s appointment as CEO could herald major changes at Af&Over
Empowerment pioneer Marcel Golding — a founder and former executive of Hosken Consolidated Investments (HCI) — looks poised for a bout of resh dealmaking. Earlier this week Golding was appointed as CEO of African & Overseas Enterprises (Af&Over), which has as its only asset a controlling stake in fashion retailer Rex Trueform (Rextru). Since leaving HCI in 2014, the former trade union stalwart has also made strategic investments in financial services boutique Vunani and construction firm Esor (which has slipped into business rescue). Golding — who has outright control of Af&Over with low-key investor Hugh Roberts — replaces Catherine Radowsky, who still serves as the CEO of Rextru. The change could be significant as the Af&Over board — at least during the tenure of former controlling shareholder the Shub family — largely mirrored the Rextru board. Essentially Af&Over serves as a pyramid holding company with no function other than to protect Rextru from raiders or the influence of di...
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