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Texton Property Fund board chairman to resign

Texton Property Fund Ltd.'s nonexecutive chairman, Dempsey Naidoo, will not stand for re-election at the company's 2018 annual general meeting in November.

The South African office real estate investment trust will pick a replacement for Naidoo in due course, according to a company release.

Trurman Zuma will also not stand for re-election to the board, due to other work commitments, while John Alastair Legh will not stand for re-election as a director, but will act as an alternate director to nonexecutive director Thys van Heerden.

The company appointed Andrew Hannington an independent nonexecutive director and as a member of the audit and risk committee, effective Oct. 11. Hannington was formerly CEO of Grant Thornton Johannesburg and CEO and national chairperson of PKF Inc.