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Mr Smith joined the Sanlam Board in June 2009 and was appointed as Chairman in June 2010. He had been Sanlam’s Managing Director from 1993, having joined the Company in 1968. He retired from his executive position at Sanlam at the end of 1997. He is also the Chairman of Reinsurance Group of America and holds several other company directorships.

Dr Van Zyl, who is currently the Chief Executive Officer (“CEO”) of Ubuntu-Botho (“UB”) as well as the joint CEO of African Rainbow Capital and is a former CEO of Sanlam, was appointed to the Board as a non-executive director on 18 January 2016 as one of three UB nominated representatives to the Board. He is credited for transforming Sanlam from a primarily South African life insurer to a multinational diversified financial services group during his tenure as CEO. He currently sits on the Supervisory Board of Steinhoff International Holdings and is a Director on several other boards.

Mr Nkosi, the retired CEO of Exxaro Resources Limited and one of the founders and former CEO of Eyesizwe Coal, serves on a number of company boards including Sanlam. His qualifications include BCom (Hons) Economics, MBA, Diploma in Marketing, AMP (Oxford). He is the second vice-president of the Afrikaanse Handelsinstituut and a past President of the Chamber of Mines of South Africa where he served on the Executive Council.

Commenting on behalf of the Board on Dr Van Zyl’s appointment, Mr Smith expressed confidence in the Board’s decision: “Patrice was the Board’s choice but the Board respects his decision and recommendation that Johan, a consummate leader, is well positioned to take over as Chairman. His association with Sanlam and industry experience will add value to the future direction and growth of the company for the benefit of all stakeholders.”

“The Board has put in place well considered and adequate processes to uphold and safeguard adherence to good governance at all times. These include, among others, the appointment of Sipho as the lead independent non-executive director,” he added.

Further, Mr Smith anticipated a smooth handover from himself to the Chairman-elect as well as a continued good working relationship between the Chairman-elect, the Board and the Sanlam Group CEO, Mr Ian Kirk.

“Johan and Ian have a well-established and positive working relationship, starting back in May 2006 when Ian joined Sanlam as an executive in Johan’s team. I am confident that this relationship will continue to serve the best interests of the Sanlam Group,” he said.

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