Raubex (JSE: RBX), South Africa’s infrastructure development, and construction materials group has responded to transformation calls by appointing Felicia Msiza as its new CEO.
Transformation has been happening at a very slow pace in South Africa’s construction industry and on top of this, there is a general lack of skills entering the listed and unlisted sectors.
The former SizweNtsalubaGobodo partner, Felicia Msiza has been appointed Rudolf Fourie’s successor with effect from August.
The appointment fits with the Raubex’s ambitions for diversified growth, including in the areas of mining services and renewable energy.
Msiza, who has extensive experience in risk management and governance, will replace current CEO Rudolf Fourie, who is looking to retire after 12 years at the helm of one of the few survivors of the downturn in SA’s construction sector that followed the 2010 World Cup.
The group announced the changes in executive positions in a shareholder notice last week Thursday.
Msiza joined Raubex in February 2011 as an independent non-executive director. She was appointed executive director in March 2017.
“Her extensive knowledge and experience in the field of governance, auditing and risk management have been instrumental in enabling Raubex to strengthen its structures and processes in line with its growth,” the notice read.
Fourie joined Raubex in 1997 and was appointed CEO in March 2010. He will retire at the end of July 2022. He will then take on the role of non-executive deputy chairperson from 1 August. He will focus on business strategy and mergers and acquisitions.
Raubex chairperson Freddie Kenney says the company looks forward to retaining Fourie’s expertise with his new role on the board.
Under Fourie’s leadership, Raubex diversified its offering and grew to include operations across Africa and Western Australia. The group has a materials supply division, a roads and earthworks division and an infrastructure division.
Furthermore, the Raubex board has created a chief operating officer position – given the “scale and complexity” of the business. Dirk Lourens, the managing director of Raubex’s infrastructure division, will take on this position.
Lourens joined Raubex in 2012 when the infrastructure division was established. He was appointed managing director of the division in May 2017, the notice indicated. Lourens has helped Raubex diversify its offering into renewable energy, rail, telecommunications, housing and commercial building refurbishment and construction.