Sasfin Group’s chairperson Deon de Kock has stepped down from the post after taking temporary medical leave in December, and Richard Buchholz is in line to take up the position.
Sasfin said yesterday: “We refer to the announcement made by the group on 6 November, 2023 wherein shareholders were advised of Mr Deon de Kock’s temporary medical leave. The group hereby informs shareholders in accordance with section 3.59 of the JSE Limited Listings Requirements, that Mr de Kock has, in consultation with his medical team, decided to step down as chair, non- executive director, and member of the human resources and remuneration committee of Sasfin Holdings and Sasfin Bank Limited.”
This change was expected to take effect on March 15 subject to regulatory approval by the Prudential Authority.
Sasfin extended its gratitude to De Kock for his invaluable counsel, dedication and commitment in discharging his duties during his tenure and wished him all the best.
The board of directors of Sasfin Holdings and Sasfin Bank has nominated the current lead independent director, Richard Buchholz, as chairperson to succeed De Kock, subject to regulatory approval by the Prudential Authority.
The board said it believed that following his six years of service as an independent non-executive director on the board and various committees, Buchholz had the necessary business insight, experience and leadership skills to chair the board going forward, and his appointment would ensure a seamless succession.
“A further announcement will be made regarding changes to board committees in due course,” it said.
Last year, Sasfin indicated that no stone would be left unturned in an expanded investigation into allegations of financial misconduct by clients and staff of its foreign exchange operations.
Sasfin is resetting strategy as it continues to grapple with issues of financial misconduct among staff and clients.
BUSINESS REPORT