Famous Brands appoint Thabo Mosololi as the new non-executive director
Owning brands such as Mugg & Bean and Debonairs, Famous Brands have announced the appointment of a new independent non-executive director. Thabo Mosololi takes the new role as an independent non-executive director to the board of directors. Famous Brands said Mosololi will also be hired as a member of the Audit and Risk Committee, per
Famous Brands appoint Thabo Mosololi as the new non-executive director
Owning brands such as Mugg & Bean and Debonairs, Famous Brands have announced the appointment of a new independent non-executive director.
Thabo Mosololi takes the new role as an independent non-executive director to the board of directors.
Famous Brands said Mosololi will also be hired as a member of the Audit and Risk Committee, per a media statement.
Based in Johannesburg, Famous Brands also owns companies such as Milky Way and Wimpy, the company announced that the new non-executive director will take over his new role in February next year.
“Thabo, who holds a B Comm (Honours) from the University of the Western Cape, is a Chartered Accountant and has held several leadership positions at various organisations most notably Tsogo Sun and Sun International, and Audit Committee and board memberships at Edcon Holdings, Telkom Limited, and MC Mining Ltd,” the group said.
“The board welcomes Thabo and looks forward to his contribution.”
The statement further indicates that Mosololi is currently serving as a non-executive director on several JSE-listed companies, including Truworths Ltd and Pan African Resources Ltd, and is the managing director of Mala Mala Game Reserve company.
Meanwhile, BusinessTech Africa recently posted that Shoprite has received a go-ahead as it plans to buy Massmart but it comes with a lot of terms and conditions.
The grocery and household products outlet, Shoprite’s proposed plan was approved by the Competition Tribunal as it wants to acquire certain Massmart-owned supermarkets.
The transaction will also include wholesalers and liquor stores and it has come to the attention of BusienssTech Africa that Shoprite initially made an offer to buy 56 grocery stores from Cambridge Food and Rhino Cash and Carry and 43 adjacent liquor stores earlier this year.
Shoprite also planned to purchase 10 wholesale cash and carry stores, 2 wholesale liquor stores, Massfresh and Fruitspot. It made an offer of R1.36 billion to Massmart. The Competition Commission recommended that the Tribunal approve the deal in May.
