Standard Bank Namibia has informed shareholders that because of regulatory processes that must still be finalised in relation to the appointment of a new chairman for the organisation, the tenure of Herbert Maier as a director and chairman on the board of SBN Holdings Limited and Standard Bank Namibia is herewith extended until further notice.
The firm had said in September that it had extended of tenure of the chairman of the board of directors of the organisation until 31 December 2023.
Maier was appointed to the SBN board of directors on 1 October 2010 as an independent non-executive director and appointed to the position of chairman to the board during 2011.
His directorships include, SBN Holdings Ltd, Standard Bank Namibia Ltd, IJG Holdings (Pty) Ltd, IJG Capital (Pty) Ltd, NEC Power & Pumps (Pty) Ltd, Stahl Construction (Pty) Ltd, NEO Paints Holdings (Pty) Ltd and Omburu Sun Energy (Pty) Ltd.
Standard Bank said in the annual report for the year ended 31 December 2022 that during the year, Alpheus Mangale and the chief financial officer, Letitea du Plessis, resigned from the board and Jerry Muadinohamba retired.
There were more changes in the composition of the board during 2023, Natasha Bassingthwaighte, Mrs Birgit Rossouw and Maier were expected to retire from the board after serving on the SBN board for more than 10 years. This is in line with the group’s board succession plan for directors.
It said Maria Dax has reached the age of 70 years and also retired from the board at the 2023 AGM.
Standard Bank said the new directors would be Silke Hornung, Suné Brugman and Nangosora Ashley Tjipitua.
