- Felicia Msiza has been appointed the new chief executive officer of infrastructure development firm Raubex.
- Current CEO Rudolf Fourie will retire at the end of July.
- The board has also created a chief operations officer position, given the "scale and complexity" of the business.
Felicia Msiza has been appointed Rudolf Fourie's successor as chief executive officer of infrastructure development firm Raubex.
The group announced the changes in executive positions in a shareholder notice on Thursday morning.
Msiza, currently the executive director of governance, risk and compliance, will take on her new position on 1 August. Msiza joined Raubex in February 2011 as an independent non-executive director. She was appointed executive director in March 2017.
"Her extensive knowledge and experience in the field of governance, auditing and risk management have been instrumental in enabling Raubex to strengthen its structures and processes in line with its growth," the notice read.
Fourie joined Raubex in 1997 and was appointed CEO in March 2010. He will retire at the end of July 2022. He will then take on the role of non-executive deputy chairperson from 1 August. He will focus on business strategy and mergers and acquisitions.
Under Fourie's leadership, Raubex diversified its offering and grew to include operations across Africa and Western Australia. The group has a materials supply division, a roads and earthworks division and an infrastructure division.
Furthermore, the Raubex board has created a chief operating officer position - given the "scale and complexity" of the business. Dirk Lourens, the managing director of Raubex's infrastructure division, will take on this position.
Lourens joined Raubex in 2012 when the infrastructure division was established. He was appointed managing director of the division in May 2017, the notice indicated. Lourens has helped Raubex diversify its offering into renewable energy, rail, telecommunications, housing and commercial building refurbishment and construction.
Raubex's share price opened at R40.50 on Thursday morning but was trading 4% lower by midmorning at R39.78. Overall the share price is up more than 43% over the past year.