(Alliance News) - Ninety One on Tuesday said Non-Executive Director Fani Titi will retire at the annual general meeting, scheduled for August 4.
The investment company said Khumo Shuenyane has been selected to succeed Titi from August 1 as the representative of Investec on the board of Ninety One.
Khumo has served as an independent non-executive director of Investec Ltd and Investec PLC since 2014. He also serves on the boards of a number of other companies within the Investec Group, including Investec Bank Ltd, Investec Life Ltd and Investec Property Fund Ltd. Additionally, Khumo is an independent non-executive director of Vodacom Group Ltd.
Ninety One is an Anglo-South African asset management business, based in London and Cape Town. Ninety One completed its demerger from Investec in mid-March 2020. Following an initial public offering in London and Johannesburg, Investec held a 25% stake, with 55% held directly by Investec PLC and Investec Ltd shareholders. Around 20% is held by employees.
Ninety One PLC shares closed 0.6% lower in London on Tuesday at 232.00 pence each, while Ninety One Ltd stock ended the day 0.3% lower in Johannesburg at ZAR45.55 a share.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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