Hastings Group Holdings PLC announced that it has appointed Rand Merchant Investment Holdings Ltd.'s Chief Executive Herman Bosman to its board as a director. Hastings said under its deal with Rand Merchant, as long as Rand Merchant holds between a 15% and 29.9% direct or indirect interest in Hastings, it will be able to appoint a director to Hastings board. Rand's purchase of a 29.9% stake in Hastings completed on March 1, 2017. In light of the purchase, Rand's CEO Bosman has joined the Hastings board with immediate effect, and this appointment has resulted in the resignation of two non-executive directors, Michele Titi-Cappelli and Edward Fitzmaurice.