Raubex, an infrastructure development and construction materials supply group, has appointed Nosisa Fubu as a lead independent director with immediate effect.
Fubu replaces Setshego Bogatsu in what has been described as a planned board leadership transition aimed at strengthening corporate governance.
The lead independent director provides leadership and guidance to the board when the chairman has a conflict of interest, while ensuring that the chairman’s authority is not undermined.
Long-term board stability
The group said the appointment comes after a formal review by its remuneration and nomination committee to support long-term board stability, orderly leadership rotation and alignment with the principles of the King V Report on Corporate Governance for South Africa.
Fubu has served as an independent non-executive director on the Raubex board since December 2022. The board said it considered her expertise and independence before approving her appointment.
She is expected to bring extensive leadership and governance experience to the role, having previously served as executive partner for clients and markets, as well as a board member and head of forensic at KPMG South Africa.
During her career, she led several major investigations across the public and private sectors that resulted in the recovery of millions of rand. She has built expertise in governance, risk management, ethics, sales and reputation management and is widely recognised for her principled leadership, integrity and ability to lead across diverse cultures.
Bogatsu to remain as non-executive director
Bogatsu, who has served on the Raubex board since 2017 and has been the lead independent director since December 2022, will remain on the board as an independent non-executive director.
The board thanked Bogatsu for her contribution during her time as lead independent director.
“The Board extends its appreciation to Setshego Bogatsu for her valuable contribution during her tenure as lead independent director,” reads the statement in part.
Raubex said the position of lead independent director remains an important part of its governance structure because board chairman Rudolf Fourie is not regarded as independent under governance best practice guidelines, having previously served as the group’s chief executive.
The board said it looked forward to Fubu’s contribution in her new role as it continues to strengthen the company’s governance framework.
- Raubex has appointed Nosisa Fubu as lead independent director, replacing Setshego Bogatsu, to strengthen corporate governance.
- The appointment follows a formal review by the remuneration and nomination committee to ensure long-term board stability and align with the King V Report principles.
- Fubu, an independent non-executive director since December 2022, brings extensive leadership, governance, and forensic investigation experience.
- Bogatsu will remain on the board as an independent non-executive director and was thanked for her service as lead independent director.
- The lead independent director role is key since board chairman Rudolf Fourie is not independent, and the company anticipates Fubu will further enhance its governance framework.
