Mr Rob Barrow announced at the Strate Annual General Meeting on 9 May 2018 that he has stepped down as the Independent Non-Executive Chairman of Strate. Mr Nigel Payne has been appointed by the Strate Board as his successor.
“We are extremely grateful to Mr Barrow for more than 8 years of his dedication and commitment to Strate, as well as for his extensive experience that has contributed greatly to the strategic direction of the company. As a community, we can appreciate the formidable role that he has played in shaping South Africa’s capital markets over the years. The Board, together with the Executive team and staff, would like to extend our sincerest gratitude to Mr Barrow and convey our well wishes for his future endeavors,” says Payne.
Mr Payne has served on Strate’s Board for more than 15 years as an Independent Non-Executive Director prior to his appointment as Chairman. He has also served on numerous boards, including being the Chairman of Mr Price Group Ltd and a director of Bidvest and Bidcorp. Mr Payne is stepping down as an independent director of the JSE Ltd. He has significant experience in the financial markets, as well as in audit and risk management.
Payne says, “It’s an honour and a privilege to be appointed Strate’s Chairman and work with an organisation that is recognised globally as a leading financial market infrastructure, one that continues to focus on developing the markets that it serves.”
Strate’s Interim CEO, Maria Vermaas, concludes: “We are saddened by the news of Mr Barrow’s decision to step down as our Chairman, yet we are very fortunate to have a person such as Mr Payne and his wealth of experience appointed as the Chairman of the Board. On behalf of Strate, we extend a warm welcome to Mr Payne as our new Chairman.”