Cape Times

Daybreak board is bolstered

- PHILIPPA LARKIN philippa.larkin@inl.co.za

THE DAYBREAK board announced last week that the Public Investment Corporatio­n (PIC) had appointed four additional non-executive directors with effect from March 21, to the board of the company as it bolsters its corporate governance.

Daybreak Farms, one of the largest integrated poultry producers in South Africa, is wholly owned by the PIC.

In 2022, the PIC overhauled the company’s board in light of reports of multimilli­on-rand irregulari­ties at the chicken producer. It also appointed new auditors and establishe­d a whistle-blowing hotline service provider as part of operationa­lising an ethics and investigat­ions committee. The latest announceme­nt comes two weeks after it announced a new C-Suite team to further clean up its reputation in the wake of a corruption scandal.

The board chairperso­n, Vuyelwa Matsiliza, said she was appreciati­ve of the shareholde­r’s efforts to bolster their capacity with the appointmen­t of the additional directors; and looked forward to continuing their work of rebuilding Daybreak into a responsibl­e corporate citizen. “Whilst there are various milestones and strides that Daybreak has achieved, this further signals to the market, the clear intent by both the Shareholde­r representa­tive and the Board to effectivel­y navigate Daybreak towards its stated ambitions,” Matsiliza said.

The four additional members to join are: Vuyelwa Matsiliza (chairperso­n), Advocate Michelle Odayan (lead independen­t, deputy chairperso­n), Kameshni Naidoo, Michelle Mbaco and Sagaylan Moodliar.

Appointed as non-executive directors to the board of Daybreak are:

Dr Charlottee Nkuna, a seasoned veterinary specialist with more than 22 years’ experience in the Animal Health Industry and Agricultur­e Sector, with strong commercial executive level experience and Masters in Business Administra­tion from the Gordon Institute of Business Science.

Bojane Segooa, a CA(SA), entreprene­ur and senior academic with experience in business leadership, strategy, financial reporting and lecturing. She is a director, and audit and risk committee member for various companies.

Esethu Dazana, a CA(SA) with a Masters in Business Administra­tion from the Gordon Institute of Business Science. She has operated in various roles in corporate and developmen­t banking. She is currently Group CFO of a large engineerin­g consulting firm. She is a director, and social and ethics, and audit and risk committee member for various companies.

Kgampi Bapela, a senior dealmaking and developmen­t finance profession­al with more than 20 years’ experience in agricultur­e, agro-processing, and business restructur­ing. He holds an MSc from Ghent University as well as a Masters in Business Administra­tion from Milpark Business School.

Daybreak Farms underwent a restructur­ing process in 2023 led by CEO Richard Manzini.

Under the leadership of Manzini, the goal was to embed Daybreak Farms in the sector and among its peers as a reliable partner, one that delivered quality chicken and food products to its customers across the country.

Manzini said in a statement last month that Daybreak Farms now needed to weather the cash mismatch created by bird flu.

 ?? ?? THE BOARD chairperso­n, Vuyelwa Matsiliza, said she was appreciati­ve of the shareholde­r’s efforts to bolster their capacity with the appointmen­t of the additional directors. | Pixabay
THE BOARD chairperso­n, Vuyelwa Matsiliza, said she was appreciati­ve of the shareholde­r’s efforts to bolster their capacity with the appointmen­t of the additional directors. | Pixabay

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