Italtile appoints black women to its board

TILE RETAIL chain Italtile yesterday announced changes to its board of directors with the inclusion of two black women to meet its transformation objectives.

The company yesterday said Tsundzukani Mhlanga, the current financial director of certain of the group’s subsidiary companies, would become the executive director for group finance and administration, while Nkateko Khoza would assume the role of an independent non-executive director.

It said Mhlanga would replace the current chief financial officer Brandon Wood, who has been appointed the executive director for commercial and supply chain.

Both appointments are effective from May 11.

The group said Wood’s role would include strategic integration of the group, with specific focus on systems and supply chain business units and new business expansion activity.

“To ensure a smooth transition, Mr Wood will provide assistance and oversight of the finance function until the conclusion of the group’s yearend programme at the end of August 2018,” Italtile said.

The group is a franchisor and retailer of local and imported tiles, sanitaryware, bathware, shower enclosures, laminated flooring and other related home-finishing products. Its retail operation comprises three brands: Italtile Retail, CTM and TopT, represented by a total network of 146 stores in Southern and East Africa. The brand offering targets homeowners across the LSM categories 4 to 10. Italtile said the new appointees would add a wealth of experience and expertise to the company.

Mhlanga qualified as a chartered accountant in 2008. She also holds a Master’s degree in Business Administration (MBA) as well as a certificate in Mining Tax Law.

Her areas of expertise include financial management, corporate governance, relationship management and financial modelling.

“She was previously financial director of a JSE listed property sector company and prior to that, acting chief financial officer of a state-owned mining company. Ms Mhlanga also has experience in the retail industry,” the group said.

Mhlanga joined Italtile in July last year.

Khoza holds a BCom degree and an MBA. He is the chief executive of Dzana Investments, a venture founded by her father, Dr Reuel Khoza. Dzana Investments is a holding company with interests in mining, property, energy, education, health and the information and communications sector.

“Ms Khoza was formerly associate director at Deloitte Consulting where she was responsible for business development and client service, concentrating on expanding the company’s public sector portfolio,” the group said.

The board said it welcomes Khoza and looks forward to her contribution to the group.

“These appointments reflect the group’s continuing commitment to enhance the experience and expertise available to the business and to attaining its transformation objectives,” the group said.

Italtile shares declined 4.23 percent on the JSE yesterday to close at R14.05.