Re­bo­sis CEO Nge­bu­lana to step down

The Star Early Edition - - BUSINESS REPORT -

RE­BO­SIS founder Sisa Nge­bu­lana is to step down and re­tire as the chief ex­ec­u­tive of the listed prop­erty fund at the end of Septem­ber. The com­pany said yes­ter­day that Re­bo­sis chief op­er­at­ing of­fi­cer Andile Mazwai had been ap­pointed chief ex­ec­u­tive ef­fec­tive from Oc­to­ber 1, while Nge­bu­lana had ac­cepted an in­vi­ta­tion to be­come non-ex­ec­u­tive deputy chair­man from the same date. It said Mazwai had been a found­ing di­rec­tor of Re­bo­sis since it listed in 2011 and has chaired the com­pany’s in­vest­ment com­mit­tee over the past six years. Re­bo­sis has a right of first re­fusal to the devel­op­ment pipeline of Bil­lion Group, of which Nge­bu­lana is chief ex­ec­u­tive. It said in its cur­rent fi­nan­cial year Re­bo­sis had con­cluded a trans­ac­tion with Bil­lion Group for the ac­qui­si­tion of two re­gional shop­ping malls and man­age­ment com­pa­nies that in­ter­nalised all Re­bo­sis’s man­age­ment. – Roy Cokayne

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