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Glenrand announces resignation of CEO

21 August 2006 Letsema Communications

JSE-listed insurance broking and benefit consulting group Glenrand M.I.B has announced the resignation of Steve von Roretz as a director and Chief Executive Officer with immediate effect.

Group chairman Dr Dudu Kunene has assumed the role of CEO on an interim basis to ensure continuity in implementing group strategy.

Von Roretz, who was appointed to the position of CEO in September 2005 and has been with Glenrand M.I.B since 1983, will continue as an employee of the group until 31 August.

Making the announcement, Kunene thanked von Roretz for his long and loyal service to the company and wished him the best for the future. Von Roretz has not made known his plans once he leaves the group.

Kunene confirmed his executive support team, comprising Risk Services CEO Andrew Chislett, Benefit Services CEO Greg Morris and Danie Meyer, who is responsible for Finance.

He outlined a number of key strategic initiatives he has identified as requiring his leadership and direction. These include establishing an international linkage; addressing the already - stated issues facing Benefit Services to ensure that the potential of the business is fully realised; finalising implementation of strategic decisions already made in respect of Underwriting; the role of the group in Africa; finalising acquisitions that the group is considering in the Risk Services business; a continued focus on transformation an area of long-standing involvement for Kunene; and the marketing strategy to strengthen the market positions of Risk Services and Benefit Services.

Kunene concluded by saying, "I firmly believe in the future of Glenrand M.I.B. We have outstanding staff and loyal clients to whom we offer excellent service. This leadership change is an opportunity for Glenrand M.I.B to focus on its core businesses and move forward to realise the group's full potential."

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