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Peregrine Holdings announces board changesSeptember 2, 2013, Sandton, South Africa - Peregrine Holdings Limited announced that Nomfanelo Magwentshu and Lungile Ndlovu are to retire from office at the annual general meeting to be held during October 2013.
Ms. Magwentshu has extensive experience in strategy development and operational management. She is currently an independent advisor to various companies. Prior to that she held various executive roles including that of Chief Operating Officer of 2010 FIFA World Cup Organising Committee South Africa and executive positions at South African Airways.
Ms. Magwentshu is currently chairperson of the South African Forestry Company Limited (Safcol), an independent, non-executive director of Nampak Limited, Chairperson of the Eastern Cape Development Corporation (ECDC), and non-executive director of Coega Development Corporation (CDC) and Air Traffic Navigation Services (ATNS).
Ms. Ndlovu was Chief Human Resources Officer of the Vodacom Group for eleven years, during which time she held board positions and was a member of the respective remuneration committees of Vodacom Mozambique, Vodacom DRC, and Gateway.
Ms. Ndlovu was also a member of the Senior Leadership team as well as the HR Leadership team of Vodafone, the parent company of Vodacom. Prior to joining Vodacom, she served as Group General Manager: HR for Primedia and Group HR Manager for Otis Elevators South Africa.
Ms. Ndlovu serves on the Board of Trustees of the Vodacom Group Foundation. She is currently the Chairman of the Peregrine Social & Ethics Committee.
The company also announced that Stefaan Sithole has been appointed as an independent non-executive director of the company, will serve on the audit committee and also be appointed as chairman of the social and ethics committee.
In 1991, Mr. Sithole qualified as a Chartered Accountant after serving articles with Deloitte Haskins and Sell. He then joined Anglo American Corporation as an Internal Auditor for a period of three years.
Recruited by SAB Beer Division for an executive financial position, Mr. Sithole served as a Financial Manager at the Rosslyn Brewery from 1992 to 1994. In 1995, he became a partner in a multi-national auditing firm, which was renamed Fisher Hoffman Sithole.
In 2001 Mr. Sithole became a partner at Sithole AB & T Incorporated and since 2002 he has been the managing partner of Sithole Incorporated and Sithole SS Chartered Accountants.
Mr. Sithole has served, and continues to serve, as chairman and member of numerous private and public sector audit committees as well as trustee to various entities. His relationship with Peregrine commenced in November 2006 when he became trustee of Peregrine's three empowerment trusts and was later appointed to the board of Nala Empowerment Investment Company and Peregrine SA Holdings.