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Sanlam names successor to retiring chairman

South Africa's Sanlam Ltd. named former CEO Johan van Zyl to succeed Desmond Smith as non­independent non­executive chairman.

Smith, who will retire after the June 2017 annual general meeting, joined the company's board in June 2009 and has been chairman since June 2010. He is also the chairman of Reinsurance Group of America and holds several other company directorships.

Van Zyl is CEO of Ubuntu-Botho as well as joint CEO of African Rainbow Capital Pty. Ltd. He was appointed to the boards of Sanlam and Sanlam Life Insurance Ltd. as a nonexecutive director Jan. 18.

Patrice Motsepe will remain deputy chairman, while Sipho Nkosi was appointed lead independent nonexecutive director.