Softline has announced the appointment of Eric Ellerine and Mac Maharaj as non-executive directors of the Softline Limited board of directors.
Softline chief executive officer Ivan Epstein says these two appointments considerably strengthen Softline's board of directors. "Both men bring unique abilities and extensive expertise to Softline," says Epstein. "Eric Ellerine is one of South Africa's most renowned businessmen and recently retired as an executive from Ellerine Holdings, the furniture group he founded. Mac Maharaj, formerly Minister of Transport, is widely respected for his intellectual acuity and brings to the group a deep understanding of the country's social and political transformation."
Internationally, corporate governance codes emphasise the need for greater non-executive participation to broaden the range of skills, experience and networks available to the executive team.
"We are privileged to have two such experienced additions to our board," says Epstein.
This is Eric Ellerine's first appointment to a board of directors since retiring as executive chairman of furniture group Ellerine Holdings. He built the group into a nationwide network of some 580 stores employing more than 8,000 people. In 1972 he was named as one of the Sunday Times Business Times Businessmen of the Year, and in 1994 Ellerine Holdings came first in the Sunday Times Business Times Top 100 Companies award.
Ellerine continues to serve on the boards of Ellerine Holdings, Bidvest, Corpgro, Dunlop Africa, Sasani and CorpCapital Bank.
Mac Maharaj has a long and unbroken record of political activism, commencing in 1953. He became a full-time member of the ANC and allied organisations in 1961 and a member of the national executive of the ANC in 1985. He played a crucial role in the Codesa negotiations in the early 1990s, culminating in the country's first democratic elections in 1994. He was appointed Minister of Transport in 1994, a position he held until retiring from parliament and government in 1999. He currently serves on the boards of FirstRand Holdings and FirstRand Bank.
Epstein says these two appointments are intended to strengthen the board as Softline embarks on its next and most exciting phase of growth, converting its huge installed customer base to e-commerce and seeking new growth opportunities both locally and abroad.
With the two new additions the current Softline Limited board of directors is as follows: Ivan Epstein, chief executive officer; Marcel Golding, non-executive chairman; Steven Cohen, chief operating officer; Rob Wilkie, group financial director; John Copelyn, non-executive director; Carlos dos Santos, non-executive director; Eric Ellerine, non-executive director; Ivan Ferrer, director; Mac Maharaj, non-executive director; Larry Nestadt, non-executive director; Gerald Rubenstein, non-executive director.
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