Sidney Ellerine, a Blue Label Telecoms non-executive director, died on Friday, the telecommunications company said yesterday in a Stock Exchange News Service announcement.
The statement did not name the cause of death.
Ellerine, who was born in 1936, had been a non-executive director at the company since 2001, says joint-CEO Mark Levy.
Levy says Ellerine had been one of the original partners when the company started out as a provider of prepaid cards.
In May 2001, The Prepaid Company, a subsidiary of Blue Label Investments, was granted a national licence to distribute Telkom fixed-line prepaid cards. This was the start of its foray into prepaid cards.
Ellerine served on the Ellerine Holdings board of directors until his retirement and then became involved in the running of the family business, Ellerine Bros, which is involved in private equity and the real estate industry.
According to Blue's prelisting statement, Ellerine held 2.35% of the telecoms company.
Strong character
Ellerine had an honest opinion, and was not afraid to make that known and enter into a debate, says Levy. However, he never sought a fight and was humble, he adds. “He was not scared to mix it up a bit and he could have a good debate.”
Levy adds Ellerine's death will leave a gap in the company, but Blue will “look at what we have learned and how we grew from that relationship”. Ellerine had experience in private equity and a number of investments.
Blue says: “Ellerine provided great leadership and direction to the board, as well as to executive management, and always conducted himself with the utmost integrity and highest regard for the interests of the company. Our thoughts are with his family, to whom we extend our deepest condolences.”
Ellerine leaves behind four children: two girls and two boys. His wife, Joane, passed away a few years previously, says Levy.
Chris Gilmour, Absa Investments analyst, says Ellerine was an entrepreneur who jointly started the Ellerine Holdings group of furniture retailers with his brother, Eric. After founding the retail chain, the brothers went on to make investments in assorted companies, of which Blue Telecoms was one of the latest.
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