Johannesburg- The Spar Limited group has announced that it is making changes to its board of directors.
These changes come after the retirement of Harish Mehta, who is currently the director of the company.
He is expected to hand over the ropes in February 2022 to Sundeep Tribhovandas Naran.
He will be appointed as an independent non-executive director of the Company with effect from 15 February 2022, subject to shareholder approval at the 2022 AGM.
Naran is a qualified Chartered Financial Analyst (CFA®) and holds a BSc (Mathematical) degree.
Naran has been with Rand Merchant Bank (“RMB”) since September 2000, serving in various senior financial and capital markets-related roles, and currently holds the position of Senior Transactor in the Leverage Finance team within the Investment Banking division at RMB.
“He has also previously served in the actuarial environment within the Employee Benefits division of Southern Life (at the time of the merger with Momentum), read the statement.
“Naran has also served as a non-executive director and member of the social and ethics and audit and risk committees of RMB clients, including Primedia Holdings and Afrisam Holdings.”
Spar has a market cap of R32 billion.
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