Integrated Annual Report
2020

Board composition

INDEPENDENT NON-EXECUTIVE DIRECTORS

CHRISTOPHER
SEABROOKE (67)

Chairman

BCom, BAcc (University of KwaZulu-Natal), MBA (Wits Business School), FCMA (UK)

Appointed: June 2009

BUHLE
HANISE (38)

BCom (University of Transkei), BCom (Hons) (University of KwaZulu-Natal), CA(SA)

Appointed: January 2019

SURESH
KANA (65)

Lead independent

BCom, BCompt (Hons), MCom, PhD (Honorary) (University of the Witwatersrand), CA(SA)

Appointed: November 2020

IAN
KIRK (62)

HDip BDP (University of the Witwatersrand), FCA (Ireland), CA(SA)

Appointed: November 2020

PHUMZILE
LANGENI (46)

BCom (University of KwaZulu-Natal), BCom (Hons) (UniversityofSouthAfrica), MCom (University of Pretoria)

Appointed: June 2009

KUBEN
PILLAY (60)

BA, LLB (University of the Witwatersrand), MCJ (Howard School of Law)

Appointed: August 2016

DIANE
RADLEY (54)

BCom (Rhodes University), BCom (Hons) (University of South Africa), CA(SA), MBA (Wits Business School), AMP (Harvard Business School)

Appointed: July 2018

SHARON
WAPNICK (57)

BA, LLB (University of the Witwatersrand)

Appointed: March 2020

EXECUTIVE DIRECTORS

DAVID
HURWITZ (49)

Chief executive officer

BAcc (Hons), HDipTax (University of the Witwatersrand), CA(SA)

Appointed: April 2012

SEAN
DOHERTY (43)

Chief financial officer

BAcc (Hons) (University of Johannesburg), CA(SA), MBA (IE Business School), AMP (Columbia Business School), ACMA (UK)

Appointed: June 2019

MARK
HERSKOVITS (46)

Chief investment officer

BBusSci (Finance), Postgraduate Diploma in Accounting (University of Cape Town), CA(SA), CFA

Appointed: January 2014

JONATHAN
JAWNO (54)

BCom (Hons), Graduate Diploma in Accounting (University of Cape Town), CA(SA)

Appointed: March 2003

MICHAEL
MENDELOWITZ (55)

BCom (Hons), Graduate Diploma in Accounting (University of Cape Town), CA(SA)

Appointed: March 2003

NON-EXECUTIVE DIRECTOR

ROBERTO
ROSSI* (58)

BSc (MechEng) and Graduate Diploma (IndEng) (University of the Witwatersrand), BProc (University of South Africa)

Appointed: September 2003

* Paul Miller resigned as a non-executive director and was subsequently appointed as an alternate director to Roberto Rossi, both with effect from 12 March 2020.

INDEPENDENCE

The Transaction Capital board comprises 14 directors, of whom nine are non-executive directors and five are executive directors. Of the non-executive directors, eight are independent.

Policy: The board should comprise a majority non-executive directors, of whom the majority should be independent.

TENURE

Average tenure of independent non-executive directors: 4.2 YEARS

Policy: Periodic, staggered rotation of members to balance new expertise and perspectives with valuable industry knowledge, skills and experience, while maintaining continuity.

DIVERSITY

The group supports the principles and aims of diversity at board level, and has a diversity policy in place to address gender and racial diversity.

NUMBER OF FEMALE DIRECTORS

NUMBER OF BLACK DIRECTORS

Policy: The nominations committee sets voluntary targets for race and gender diversity and assesses progress annually. Targets align to the JSE Listings Requirements on the promotion of diversity. Black directors include African, Indian and Coloured directors.

AGE DISTRIBUTION

Non-executive directors
Executive directors

AVERAGE AGE 54 YEARS

EXPERIENCE

The board skills matrix (set out below) provides an overview of the existing skills, knowledge and experience of the board. The skills matrix is assessed together with the overall board tenure, diversity and independence of directors.