Danie Botes, CEO of MMI Holdings resigns

Larry Ettah

A sudden wave of resignation has hit MMI Holdings as Chief Operating Officer Danie Botes and Chief Executive of Momentum Retail Etienne de Waal have resigned to pursue other interests.

The company said Both Danie and Etienne were with the group for more than 20 years and leave a lasting legacy. MMI Holdings would like to thank Danie and Etienne for their contribution to the group.

In response to the resignations and to enable the group to deliver on its strategic initiatives, we wish
to announce the following executive changes:

Mary Vilakazi, current group Finance Director, has been appointed Deputy Chief Executive of MMI Holdings. Mary’s portfolio will include responsibility for the group’s finance, information technology, and operations functions. The Deputy CEO role will effectively amalgamate the previous COO and FD roles. To support Mary in the expanded responsibility, two new roles have been added to the MMI executive committee; Group Chief Financial Officer and Group Head of Operations.

Risto Ketola, current Investor Relations and Business Performance Executive, has been appointed Group CFO. Risto will take executive accountability for investor relations, performance management, group reporting, certain group-wide services, merger & acquisitions, and balance sheet management.

Ashlene van der Colff, current Group Chief Internal Audit Executive, has been appointed Group Head of Operations. Ashley has a proven track record in implementing business processes and will take responsibility to ensure that MMI operations and work practices are robust, effective, and efficient.

The company has appointed Khanyi Nzukuma has been appointed CEO of Momentum Retail. Khanyi has a strong track record
having led the extensive channel restructuring in Metropolitan Retail that is now bearing fruit. Khanyi’s skill set in distribution and in leadership makes him the ideal candidate to take forward Momentum’s plans around revitalising its distribution models and client engagement experiences.

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