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Zimbabwean born executive takes over as Sun International chairperson

by Staff reporter
06 Jul 2021 at 19:23hrs | Views
JSE-LISTED hospitality and gaming group Sun International yesterday announced the appointment of Sam Sithole as its new chairperson while the group navigates the choppy Covid19 environment.

Sithole replaces Jabu Mabuza, who recently died from Covid-19.

Sun International chief executive Anthony Leeming said yesterday that Sithole brought a wealth of experience to the group with a proven track record at the company.

"Sam Sithole's history with the company has given him valuable knowledge and insight, and his more than 20 years of experience in finance and investment will serve us well.

"The board and management of Sun International congratulate Sam on his new appointment and welcome him as chairperson," Leeming said.

The group said Sithole had been a member of the Sun International board since 2018. He was also the chief executive and co-founder of Value Capital Partners, which had a substantial shareholding in the Sun International group.

Sithole is also a director of several JSE-listed companies, including technology giant Altron, workplace solutions provider Adcorp and Metair Investments.

Sithole would also serve as the chairperson of the group's nomination committee, while Sindi Mabaso-Koyana would replace Sithole as chairperson of the remuneration committee and she had also been appointed as an additional member of the audit committee, the company said.

The group has also strengthened its board by making new appointments in various of its committees.

Caroline Henry, who was appointed as independent non-executive director of the board in 2016, had been appointed as the member of the nomination committee, while Tapiwa Ngara, an independent non-executive director, has been appointed to the risk and investment committee.

Sun International is still feeling the impact of Covid-19 in its operations after President Cyril Ramaphosa moved the country back to an adjusted level 4 national lockdown at the end of the last month.

The group temporarily had to close all of its restaurants and casino properties from June 28, in line with new Covid-19 regulations announced by the president.

The group also took a decision to temporarily close its hotels and resorts, including Sun City Resort and Wild Coast Sun.

However, its online SunBet sports betting platform continues operate.

Sun International's shares closed 2.18 percent higher at R19.30 on the JSE yesterday.

Source - iol