Lucas-Bull to fill Wiese s chair ’

Shoprite has named the Absa Group chair as its chair-designate, handing the retailer its first female chair and ending Christo Wiese s 30-year old reign.

Wendy Lucas-Bull will take over from Wiese, who has been chair of the group since 1991 and helped build it into one of the continent s largest retailers with

an annual revenue of about R157bn. He will remain on the board as a nonexecutive director after its annual general meeting (AGM) on November 16. Lentus Asset Management s Nic Norman-Smith said an outsider would be a benefit for Africa s largest grocer, which boasts more than 2,700 stores across the continent.

A fresh perspective without the history can only be beneficial for the company.” Lucas-Bull was formerly chair of Lafarge Industries and deputy chair of Aveng. She has also been on the boards of UK bank Barclays, Anglo American Platinum, Alexander Forbes, Eskom, Nedbank, Telkom and the Development Bank of Southern Africa. She has a year left as chair of Absa before she breaches the Prudential Authority s guideline that nonexecutive directors who have served longer than nine years cannot be considered independent. Wiese s resignation was announced after shareholder discontent when the company announced a plan to unwind a structure that gave him controlling deferred shares. The plan was controversial among shareholders because it would have meant that Wiese, who was once a top shareholder in Steinhoff and controls investment company Brait, would get a R3.4bn payout.

Wiese announced his planned retirement in November. At the 2019 AGM, 61% of shareholders voted against his reappointment but he kept the seat as he controls 42% of the votes with a combination of ordinary shares and deferred super-voting stock.

The move to reduce Wiese s influence was boosted in 2020 when All Weather Capital CEO Shane Watkins nominated former Pepkor head Jan le Roux as a director of Shoprite, in an

some farming experience — three to five years would also

be prioritised, though those with no experience would not be excluded from applying. Didiza said that training would be compulsory for all beneficiaries.

She noted that some of the farms might already have been occupied without permission. A land-inquiry process will

determine how individuals and communities occupying land got access to it. The inquiry will also look at how the land is being utilised and whether such use is in accordance with the agricultural practices for the area,” said Didiza.

Where such land has been used for settlement, assessment will be done, together with the departments of human settlements; water and sanitation; environment, forestry and fisheries,” Didiza said.

Based on the outcome of the assessment and recommendation, a decision will be taken on the future of such occupations.”

A LAND-INQUIRY PROCESS WILL DETERMINE HOW INDIVIDUALS AND COMMUNITIES OCCUPYING LAND GOT ACCESS TO IT