27 March 2012
Royal Bafokeng Holdings (Pty) Ltd (RBH) advises that current Chief Executive Officer (CEO) Niall Carroll has tendered his resignation from the group, which has been accepted with regret by the RBH board.
Mr Carroll has led RBH as CEO since its inception in 2006. He was CEO of Royal Bafokeng Finance, which was merged with RBH, from 2004 to 2008.
During his eight-year tenure with RBH, Mr Carroll has built up a high-calibre, professional team that has underpinned RBH‟s success. Mr Lucas Ndala, currently Executive Director: Finance, has been appointed as interim CEO.
Kgosi Leruo Molotlegi, King of the Royal Bafokeng Nation and Chairman of RBH, has paid personal tribute to Mr Carroll, to the contribution he has made to RBH, and to his counsel and stewardship. He notes that the team that Mr Carroll has established will ensure that the business of RBH rests in „safe hands‟.
Mr Carroll notes: “It has been both a pleasure and a privilege to have been associated with RBH. RBH‟s investment vision of being the leading, community-based investment company is one that has required care, leadership, diligence and vigilance to live up to. It has needed the right people and the right partners, and we have been fortunate to have both. I wish RBH and the people of the Royal Bafokeng Nation ongoing prosperity and success.”
Russell and Associates
+27 11 880-3924
+27 82 372-5816 james [at] rair [dot] co [dot] za
Note to editors:
Royal Bafokeng Holdings (Pty) Ltd (RBH) is responsible for the management and development of the commercial assets of the Royal Bafokeng Nation (RBN), with the objective of maximising returns to enable the RBN to deliver sustainable benefits to the community.
The Royal Bafokeng Nation is a unique African community where tradition meets modernity. Located in the Rustenburg Valley in the North West Province, the 29 villages of the Royal Bafokeng Nation boast some of the most innovative approaches to sustainable development in Africa. These include holistic education reform, the use of sport to generate social and financial returns, and converting mineral resources into the world‟s leading community-based investment company.
The King of the Royal Bafokeng Nation is Kgosi Leruo Tshekedi Molotlegi, 36th in a long line of visionary traditional leaders. Thanks to the pioneering spirit of the King‟s ancestors, the Bafokeng community owns the rights to the largest known reserves of platinum and chrome in the world. Plan 2035 and the Masterplan, the strategic blueprints for the community‟s future, aim to create a socially, economically, and environmentally sustainable community true to its African heritage and traditions.