Rosebank, South Africa, 20 July 2020: JSE-listed diversified Real Estate Investment Trust Redefine Properties (JSE: RDF) has appointed Diane Radley to its board of directors as an independent, non-executive director with effect from today. The appointment of Ms. Radley is in line with Redefine’s stated intention of strengthening governance and board independence, broadening diversity and bolstering skills on its board.
A qualified Chartered Accountant (SA), Ms. Radley is an alumnus of Rhodes University and holds an MBA from the Wits Business School as well as an AMP from Harvard.
Ms. Radley has international experience both in her executive capacity and as a non-executive director. Her extensive board experience includes her roles as chairperson of the Marriot Unit Trust Company (Pty) Ltd, non-executive director at Transaction Capital Ltd, Murray & Roberts Holdings Ltd and Base Resources Ltd in Australia. She was previously a non-executive director at Old Mutual Real Estate Holding Company Ltd.
She led the Transaction Services Group at PwC which focused on due diligence and valuations on transactions for private equity funds, investment banks, strategic buyers, corporate acquirers and other equity providers prior to joining Altron as their CFO in 2001.
In 2010 after a three-year term as group finance director of Old Mutual (Emerging Markets) she was appointed CEO of Old Mutual Investment Group until the end of 2016. In this role she was responsible for the property business and continued as a non-executive director on the board of Old Mutual Real Estate Holding Company after leaving Old Mutual.
“We are delighted to welcome Diane to the board and look forward to working with her. Given her broad investment, real estate and board experience, she will be an invaluable resource as we continue to execute our strategy in a particularly challenging environment,” says Sipho Pityana, Chairperson, Redefine Properties.
Redefine’s gender diversity policy promotes a voluntary target of 40% female representation on the board over a three-year period, while the racial diversity policy promotes a voluntary target of 50% black representation on the board over the same period.
Ms. Radley’s appointment takes Redefine’s female representation on the board to 60%.
“Diane’s appointment furthers our efforts to benefit from fresh and diverse perspectives from our independent directors,” concludes Sipho.