Iqbal Survé has resigned his position as executive chairman of JSE-listed investment holding company Sekunjalo.
He will however remain chairman of Sekunjalo Investment Holdings, the private investment holding company that is the controlling shareholder of Sekunjalo.
“I have been at Sekunjalo for 14 years now,” he says, “it was time to hand over the baton.
Surve is also executive chairman of Independent News & Media, publishers of the Star, Daily News and Cape Times newspapers.
Sekunjalo Independent Media Consortium (SIM) concluded its purchase of Independent News & Media SA in 2013.
Sekunjalo Investments Limited announced on Tuesday that it had increased its annual profit to more than R100 million.
The company announced a “healthy increase” in its net asset value, of approximately 39%, and an increase in operating profit from R67-million to R99-million. Profit before tax rose 84% from R59-million to R108-million.