Investment group Remgro (REM) announced on Monday that Jannie Durand has been appointed as the group's new CEO with immediate effect.
Durand, who has been serving as Remgro's Chief Investment Officer, replaces Thys Visser who died last week.
Remgro said a replacement for Durand's position as Chief Investment Officer would be announced in due course, once this appointment had been finalised.
Johann Rupert, Chairman of Remgro, said: "The Board was fortunate to have had more than one good candidate for the position. One of the deciding factors was that the Board wanted a new generation appointment similar to when Thys Visser was appointed. The Board is positioning itself for the future."
Remgro appoints new CEO