PrimeTime Property Holdings Limited announced the following appointments within the existing independent board members, effective 1 June 2022, facilitating the planned retirement at the end of this financial year of its long- standing members Petronella Matumo and Cross Kgosidiile.
Paul Masie has been appointed as Board Chair, replacing Petronella Matumo. Paul's extensive experience at senior board level and in the commercial financial sector will stand him in good stead to lead the Company going forward. Max Marinelli replaces Cross Kgosidiile as the Lead Independent Director. Max's vast experience during his career in the auditing and accounting profession, and beyond in his current board and advisory roles, will enable him to provide support and guidance to the Board Chair and the other independent directors as required in this role. Nigel Dixon-Warren, who has served on the Committee for the last three years, has been appointed as the Chair replacing Cross Kgosidiile who retires from the ARC. As a qualified accountant with 30 years' experience in a wide range of audit, accounting and taxation matters at a senior level, Nigel is ideally positioned to lead this Committee providing essential advice to the wider Board on financial, risk and related party matters. Max Marinelli and Chanda Masendu-Kusane also join the ARC providing a solid combined skill set of financial and property risk expertise. This advisory Committee, newly formed in February 2022, has general responsibility for the oversight of governance related issues and leads the process for board appointments. Max Marinelli takes over as GNC Chair from Petronella Matumo. Paul Masie with a background in the highly regulated pensions sector, and Chanda Masendu-Kusane experienced in real estate valuations and asset management; are also members of the GNC. This Committee is excellently resourced to guide PrimeTime through its increasingly regulatory environment.