South Africa's The Foschini Group sees resignation of CFO & ED

17 Oct '23

1 min read

Pic: The Foschini Group

Insights

Bongiwe Ntuli has resigned as chief financial officer and executive director of The Foschini Group (TFG), effective from November 30, 2023.
The TFG supervisory board has accepted her resignation, and she will be available for consultation with the group for 12 months.
The board will announce the appointment of a new chief financial officer in due course.

Bongiwe Ntuli has resigned as the chief financial officer (CFO) as well as the executive director (ED) of The Foschini Group (TFG). Ntuli will be leaving the group with effect from November 30, 2023, after the presentation of the group's interim results, to pursue new interests.

The TFG supervisory board of directors (the board) has accepted Ntuli's resignation. The board thanks her for her counsel, dedication and service over the period of her almost 5-year tenure with the group and wishes her well in her future endeavours. Ntuli will remain available to consult to the group for a period of 12 months, the company said in a press release.

The board will advise shareholders of a permanent appointment of a chief financial officer in due course. Anthony Thunström will, subject to confirmation by the JSE Limited, fulfil the role of both chief executive officer and executive financial director for the period December 1, 2023, until the appointment of the new chief financial officer.

Fibre2Fashion News Desk (RR)