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13 November 2009
Group Chairman to retire in 2010
Derek Cooper, who has been Chairman of Standard Bank since January 2001, reaches retirement age and will be stepping down from the board of directors of Standard Bank Group (?the Board?) after the Annual General Meeting in May 2010.
The Board is pleased to announce that Tshamano Mohau Frederik (?Fred?) Phaswana has agreed to accept the Chairmanship of the Standard Bank Group on Derek Cooper?s retirement and will, subject to regulatory approval, be joining the Standard Bank Group and The Standard Bank of South Africa Limited Boards. Both Saki Macozoma and Kaisheng Yang will continue as joint Deputy Chairmen of the Group.
Fred Phaswana, 65, currently chairs Anglo American South Africa, Anglo Platinum Limited and Ethos Private Equity Limited and serves on the boards of Brimstone Investment Corporation Limited, Naspers Investments Limited and Media24 Limited. In addition he chairs the South Africa Institute of International Affairs and serves as an Advisor to the Prince of Wales Business and Environment Programme.
He was previously Regional President of BP Africa, chaired Transnet Limited, the South African National Energy Association and the Cape Town Graduate School of Business Advisory Board, and held directorships in the World Wildlife Fund South Africa and the Cape Town Press Club. He will review his current commitments in the light of his pending Chairmanship of Standard Bank Group.
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