[miningmx.com] – PHUTI Mahanyele, CEO of Shanduka Group, is to step down after 10 years leading the company first started by deputy president, Cyril Ramaphosa, in order to start her own business, said BDLive.
The move comes as Shanduka Group is merging with Pembani, led by MTN chairman Phuthuma Nhleko, said the newspaper. The merger will form one of South Africa’s largest black-controlled companies with a net asset value of more than R10bn.
Mahanyele’s resignation, effective from June, means she will also relinquish board positions at mining groups Lonmin and Pan African Resources, where she has represented Shanduka.
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