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JSE-listed Group Five has appointed Themba Mosai as Group Chief Executive. Mosai will take on the position with immediate effect.

New Chief Executive for Group Five announcedMosai replaces Eric Vemer, who resigned in February after more than two years at the helm of the company, and has been charged with “unlocking shareholder value”, the company said in a statement. Mosai has been with Group Five for over 13 years, three of which have been on the Executive Committee as Head of Development.

He worked in various roles in Group Five’s engineering and construction cluster for 10 years before moving to the investment and concession cluster in 2004, and has been instrumental in the growth of the developments business, which focuses on the transport, energy and real estate.

“I am honoured to formally take the lead at Group Five as the company improves performance across its portfolio of businesses. I look forward to working with the Group Board and the highly competent management team in place,” Mosai said.

“Our immediate priorities are to deliver stakeholder value by right sizing our construction business, effectively managing risk, executing on the voluntary rebuild programme and leveraging our relationship with Aberdeen Infrastructure Fund to expand our concessions business.”

The company has also announced the appointment of Kushil Maharaj as Group Executive Committee Member of Investments and Concessions. According to the company, Maharaj has extensive experience in real estate deal structuring and development, infrastructure development and construction management.

“The management team will be responsible for guiding the Group through the current challenging operating environment and delivering on its stated strategy,” Group Five said, and welcomed Mosai and Maharaj to their new positions.

Image credit: http://www.g5.co.za/au_lead_exec.php

 

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