Barloworld Chairperson to retire at end of nine-year board tenure25 February 2021
Dongwana has served on board committees and is the current Chairperson of the Board
Barloworld Limited (“Barloworld”) today announces the retirement of Ms Neo Dongwana as a Non-Executive Director and Chairperson of the Board effective May 2021. Whilst Ms Dongwana had an option to extend her tenure for a further three years, she believes that this is the right decision in light of the shareholder vote against her remuneration at Barloworld’s AGM on 11 February 2021.
Ms Dongwana has served on the Board for a nine-year period and will not stand for re-election at the next AGM. She was appointed to the Barloworld Board in May 2012 and became Chairperson in February 2020.
During her tenure on the Board, Ms Dongwana has served on several Board Committees. She has recently been a member of the remuneration, social and ethics and transformation committees and has chaired the nomination and strategy and investment committees.
The Board has nominated Ms Neo Mokhesi as Lead Independent Director effective immediately. Ms Mokhesi was appointed to the Barloworld Board on 1 February 2019.
Speaking on behalf of the Board, Ms Mokhesi, said: “Neo has been a valuable member of the Board since May 2012. During that time her contribution and leadership as a member of the board and the various committees have been critical to the direction of the business. She has been instrumental in setting Barloworld’s vision, guiding management to evolve the group into a global business with a diverse and inclusive workforce.
On behalf of the board and Barloworld, I would like to take this opportunity to thank Neo for her stewardship over the years. We are grateful for her dedication and meaningful contribution.“
Barloworld Group Chief Executive Officer, Dominic Sewela, commented: “Neo has helped steer Barloworld through significant management, operational and portfolio changes. She steps down having ensured that the company is strategically positioned for the future. Through her support of me and the management team, and her stewardship of the board, Barloworld is seeing positive progress having navigated one of the most difficult periods in the company’s and the world’s history, as COVID-19 affected livelihoods and the business’ operating performance.”
Dongwana will step down as Board member and Chairperson when her term ends, or soon after the board has appointed her replacement. Barloworld will release a further announcement once the date of retirement of Ms Dongwana has been determined.