LONDON (Alliance News) - Property investor Stenprop Ltd said Wednesday it has promoted Head of Finance James Beaumont as chief financial officer on an interim basis with immediate effect.
He will be replacing Patsy Watson, who is standing down after 12 years in the role since 2007. Watson, however, will remain on the company's board as non-executive director.
Beaumont has been head of Finance at Stenprop for four years since 2015, and prior to that he was part of broker Shore Capital as finance director of Alternative Asset Funds from 2010 to 2015.
"James has been Head of Finance at Stenprop since 2015. He is a valued member of the finance team and we have full confidence that he will prove to be an excellent CFO and board member of Stenprop," said Chief Executive Officer Paul Arenson.
"We wish to thank Patsy for her outstanding commitment to the business. Patsy has been a crucial member of the team on the Stenprop journey and leaves at a time when Stenprop is well positioned for future success. We have worked together for 12 years and she has been an outstanding CFO," Arenson added.
Shares in Stenprop were down 0.4% at 112.00 pence in London, while Johannesburg shares were 1.9% lower at ZAR21.07 on Wednesday.