By Pauline Larsen
Two new MDs have been announced in an industry that has often been accused of resisting transformation.
They will run two of SA's largest property groups, Old Mutual Properties (OMP) and Liberty Properties. Property doyen Ian Watt of OMP is standing down in favour of Benjamin Kodisang, GM of Old Mutual's e mployee benefits division and an unknown in the property sector.
Kodisang's experience lies in investment .
He holds a BCompt (Hons) degree from Unisa and is a member of the SA Institute of Chartered Accountants and the Investment Analyst Society of SA. He cut his teeth professionally at Ernst & Young and Liberty Asset Management, and was a founding shareholder of Prodigy Asset Management during the 1990s. In 2000 he was appointed chief investment officer at African Harvest Fund Managers before joining OM in 2002.
He will take up the reins on January 1 next year after a six-month stint working with Watt to develop OMP's strategic plans for 2005. Watt will remain with OMP, focusing on its offshore portfolio, which has absorbed his interest in recent years. The sudden resignation of Liberty Properties MD Jim McLean caused a stir in the property market this month . But Liberty Group CEO Myles Ruck says the move was in the pipeline for a while. "A change of management doesn't happen unexpectedly, and there is always a succession plan," he says.
McLean's shoes will be filled by Roger Corlett, who has been with the group for 18 years. Corlett's position as director of property management is being taken up by Caswell Rampheri from the beginning of August. "Caswell is young, black and dynamic and brings fresh blood into the property group in a key portfolio," says Ruck. McLean plans to pursue his own interests but will remain in property. This year is turning out to be one of greater commitment on the part of commercial property to open up more opportunities for women and black empowerment candidates (see Property June 25). There have also been changes at Marriott Holdings' head office in Durban. CEO Mike Mun-Gavin is stepping down after 13 years and handing over to Simon Pearse, head of Marriott Asset Management since 1996.
The appointment includes overseeing The Property Specialists, Marriott's property division. Says Mun-Gavin: "The management change doesn't affect the property side of the group directly, and Craig Ewin remains MD of Marriott Property Services."
Publisher: Financial Mail
Source: Financial Mail
Two new MDs have been announced in an industry that has often been accused of resisting transformation.
Latest from eProperty News
- Love and property: a homebuying guide for couples
- From Civic Landmark to Collaborative Hub: A New Era for Muizenberg’s Post Office
- Growthpoint breaks ground on Tecoma Park, Cornubia, advancing its local logistics strategy
- Rosebank Mall adds Livo to its lifestyle line-up
- 166 sectional title units in the iconic Parktonian Hotel, located in the heart of Braamfontein, Johannesburg
eProperty News is a leading online commercial property marketplace serving the Southern African Investment, Office, Retail and Industrial property and allied sectors.