Frans du Toit has stepped down as a director of the Capricorn Group after 19 years, but will continue to serve as non-executive director of Bank Windhoek, the group’s cash cow.
Du Toit was first appointed as a director of Bank Windhoek in 1998 and as director on the Bank Windhoek Holdings (now Capricorn Group) board in 2013, when the group listed on the Namibian Stock Exchange (NSX).
“Mr du Toit will continue to serve as a non-executive director of Bank Windhoek Limited, so we are grateful that we will continue to benefit from his many years of experience in the banking and accounting industry,” said Marlize Horn, Group Executive: Brand and Corporate Affairs at Capricorn, in response to an enquiry.
Du Toit chairs the bank’s Board Audit Committee and is a member of the Board Risk and Compliance Committee as well as the Board Lending Committee.
He will continue to chair the Capricorn Group Board Remuneration Committee.
Horn said Du Toit has contributed on various board committees, including the Group Board Audit and Risk Committee, the Group Board Remuneration Committee, the Group Board Nominations Committee, the Group Board Human Resources Committee and the Group Board Investment Committee.
She said Du Toit has had many memorable moments at Capricorn including that of seeing the group list on the Namibian Stock Exchange four years ago.
“His contribution to Bank Windhoek and the Group is immeasurable. The listing on the NSX in June 2013 is a memorable moment. It provided an opportunity for more than 5000 Namibians to become shareholders in the largest majority-Namibian owned financial services group. The value of a share in Capricorn Group has more than doubled since the public offer price of N$8, 75 to N$18, 11 today,” Horn said.
She added that Du Toit’s seat on the board will not be replaced, with Gerhard Fourie having taken over the role of lead independent non-executive director.
Du Toit’s retirement was effective 31 October. The Capricorn Group Board of Directors is now made up of Johan Swanepoel (Non-executive chairman), Brian Black – (Independent non-executive director), Koos Brandt – (Non-executive director), Gerhard Fourie (Lead independent non-executive director), Gida Nakazibwe-Sekandi (Independent Non-executive director) and Thinus Prinsloo, (Managing Director).
Other directors are Dirk Reyneke (Independent non-executive director), Esi Schimming-Chase (Independent non-executive director), John Shaetonhodi (Non-executive director) and Matheus Shikongo (Independent non-executive director).