The Board of Directors of Basil Read is pleased to announce the appointment of Neville Francis Nicolau to the Board as Chief Executive Officer, effective from 1 September 2014. He will succeed Des Hughes, acting CEO following the retirement of Marius Heyns post the 2013 financial year-end.

Basil Read Chairman, Lester Peteni, commented: “We have now finalised the process of identifying a suitable CEO which was started earlier this year. We believe the process we have followed was a robust and responsible way of ensuring the transition at the helm of the Company. We are delighted now to appoint Neville Nicolau as CEO of Basil Read.”

Mr. Nicolau’s most recent role was as CEO of Anglo American Platinum from 2008 – 2012 while prior to that, he was COO at Anglogold Ashanti Ltd and was with them for almost ten years in various executive roles.

Peteni added: “Neville is well known across industries in South Africa and recognised for his strong blend of experience in business and leadership. The board is confident that his experience, combined with the collective knowledge of the existing management team, will add momentum to the company’s strategy.”

The Chairman concluded: “We are delighted to welcome a seasoned executive of Neville’s calibre to Basil Read. The board looks forward to working with Neville to inject new energy into our efforts, as we continually strive to improve business performance and the strategic transformation of the company.”

Press Release courtesy of Basil Read Holdings Ltd and Magna Carta Communications