A N N U A L   R E P O R T      2 0 0 3
Content
Highlights Accounting policies
Letter to shareholders Income statements
Board and governance structure Balance sheets
Group overview Cash flow statements
Building and developing people Notes to the cash flow statements
Corporate governance Statement of changes in equity
Value added statement Notes to the annual financial statements
Segmental analysis Principal subsidiaries
Five-year financial review Share ownership analysis
Summary of statistics Shareholders' diary
Definitions Corporate administration and information
Directors' responsibility Notice of annual general meeting
Report of the independent auditors Currency conversion table
Secretaries' certification Proxy form
Statutory information

BOARD AND GOVERNANCE STRUCTURE
Executive Directors
1. G Pretorius (55)

Chief executive
BSc, BEng, LLB, PMD

Appointed to the board in 1990

Gerrit joined Fuchs Electronics as a development engineer in 1973 and completed an LLB, studying part-time. Progressing through the ranks he was appointed managing director of Reutech in 1989.

In 1990 he was appointed to the Reunert board. Following the unbundling of the group in 1993 he restructured Reunert's telecommunications interests and established joint ventures with Siemens Limited and GEC plc. A year later he was appointed chief executive of Telephone Manufacturers of South Africa.

In April 1997 Gerrit was promoted to chief executive of Reunert Limited.
2. BP Gallagher (53)

Executive director
BCom, CA(SA)

Appointed to the board in 1993

Pat joined the Barlow Rand Group, Rand Mines Properties as financial accountant in 1976. He was promoted soon after and consequently served as managing director for various companies in the Barlow Rand Group.

With the unbundling of the Barlow Group in 1993, Pat was appointed executive director of Reunert Limited and chairman of Reunert Consumer & Commercial Holdings.
        Non-executive Directors
3. GJ Oosthuizen (49)

Commercial director
BIuris, LLB

Appointed to the board in 1997

Gerrit practised as a lawyer for nine years before joining the Barlow Rand Group as an industrial relations advisor in 1987.

In 1996 he was appointed executive director: human resources at PPC Limited and the following year returned to Reunert as an executive director.

Gerrit's current responsibilities include general commercial work, corporate communications and legal affairs.
4. DJ Rawlinson (54)

Financial director
CA(SA)

Appointed to the board in 1992

After completing his articles David joined Coopers & Lybrand and was then seconded to England for three years.

He has been involved for the past 15 years in the electronics and electrical engineering industry, working for CG Smith, GEC and as deputy managing director of Alstom. He became financial director of Reunert and was appointed to the Reunert board in 1992.
5. Derek Cooper (63)

Chairman
CA(SA)

Appointed to the board in 1998

Derek was appointed non-executive chairman of Reunert Limited in May 1999 after he became chairman (for the first time) in the mid-1980s.

He started at Barlow Rand Limited in 1964 and held various positions, culminating in the appointment as vice-chairman and managing director of Barlow Rand Limited in 1992. After the unbundling of the conglomerate of Barlow Rand Limited, he was appointed chairman of CG Smith Limited in 1993. He held this position until the unbundling of this group in 2000.

Derek is chairman of Liberty Holdings, Liberty Group and Standard Bank Group.
6. MJ Shaw (65)

Non-executive, independent director
CA(SA)
Director of companies

Appointed to the board in 2001

Martin joined Deloitte & Touche in 1956 in Johannesburg. He was appointed a partner in 1968 and transferred to Durban. He returned to Johannesburg in 1983 and was appointed managing partner.

In 1991 he became chief executive, a position he held until 1999. Thereafter he acted as chairman of the board until his retirement in 2001. He serves as a board member of a number of South African listed companies.
7. BP Connellan (63)

Non-executive, independent director
CA(SA)
Director of companies

Appointed to the board in 1999

Brian retired as executive chairman of Nampak Limited in 2000, a position he had held since 1990. He joined the Barlow Group in 1964 and managed a number of subsidiaries before being appointed as director of Barlow Rand Limited in 1985.
He is director of ABSA Group Limited, Bidcorp plc, Illovo Sugar Limited, Oceana Group Limited, Nampak Limited, Tiger Brands Limited and Sasol Limited. In addition, Brian is past councillor of the South Africa Foundation, Corporate Forum and the Institute of Directors, as well as a contributor to King I and King II on corporate governance issues.
8. SD Jagoe (52)

Non-executive, independent director
BSc (Eng), MBA
Merchant banker

Appointed to the board in 2000

Sean is a senior advisor in Morgan Stanley's Johannesburg office, with 22 years' experience in banking and finance. Prior to joining Morgan Stanley, he was head of mergers and acquisitions at Deutsche Morgan Grenfell, head of corporate finance at Rand Merchant Bank and chief professional officer with the Industrial Development Corporation.

Sean also serves on the boards of AVI, Consol and Ceramic Industries.

9. KJ Makwetla (62)

Non-executive, independent director
Social Work Diploma, PMD (Harvard)

Appointed to the board in 2000

Bobby spent most of his working life in the furniture industry. He served as executive director for King Food Corporation, a subsidiary of Tiger Brands (Tiger Oats) and Tiger Foods.

He is chairman of the Limpopo Economic Development Enterprise and of Johannesburg Property Company, and also serves on the boards of Lebowa Platinum, Potgietersrus Platinum and New Era Life Insurance. In his various capacities, Bobby has contributed extensively to black economic empowerment issues at governmental level.
10. CL Valkin (69)

Non-executive, independent director
BCom, LLB
Attorney

Appointed to the board in 2000

Charles completed his law studies at the University of the Witwatersrand and was admitted as an attorney in 1963. He served in the Law Society of the Transvaal between 1975 and 1981.

Charles is now a senior partner at Bowman Gilfillan Inc and specialises in acquisitions and mergers, corporate law and finance law.
11. Dr JC van der Horst (59)

Non-executive, independent director
BA, LLD
Director of companies

Appointed to the board in 1993

Johannes worked for Old Mutual from 1971 to 2002 where he was general manager (investments) from 1985 to 1997.

In September 1997 he was appointed to lead Old Mutual's demutualisation project, which culminated in July 1999 in its listing on the London Stock Exchange and the JSE Securities Exchange.

Over the past 20 years he has served on the boards of various companies listed on the JSE Securities Exchange, and he is currently also on the boards of Assore Limited and Wooltru Limited.
Audit committee
MJ Shaw (Chairman), BP Connellan, SD Jagoe, G Pretorius, DJ Rawlinson
Remuneration committee
SD Jagoe (Chairman), DE Cooper, JC van der Horst
Executive and risk committee
G Pretorius (Chairman), BP Gallagher, GJ Oosthuizen, DJ Rawlinson


back to the top...
Copyright - Reunert - 2003