Hosken Consolidated Investments Limited announced that Mr. Yunis Shaik on the board has been changed to that of executive director with immediate effect. Consequently Mr. Velaphi Elias Mphande has been appointed as lead independent non-executive director in his stead. Elias was appointed to the board of HCI as a non-executive director in September 2010.

The company announced both Mr. Leslie Maasdorp and Ms. Rachel Watson to the board of HCI as independent non-executive directors. Leslie will serve as the Chairman of the Audit and Risk committee. Leslie is President of Southern Africa for Bank of America Merrill Lynch.

He is non-executive Chairman of Advtech Limited and a non-executive director of Telkom SA SOC Limited. Rachel currently holds a position as manager at a regional broadcaster.