PHUMELELA MEDIA RELEASE
SUBJECT: Rian du Plessis appointed Group CEO of Phumelela to drive international growth
DATE: Friday 27 June 2008
RELEASED BY: Phumelela Gaming and Leisure Limited
Phumelela Gaming and Leisure Limited, the JSE-listed horseracing and tote betting company, is delighted to announce that Willem Adriaan (“Rian”) du Plessis (47) has been appointed Group CEO of Phumelela and CEO of the company’s international arm, Phumelela Gold Enterprises (PGE), with effect from 1 August.
On the same date David Attenborough (45), currently Phumelela’s Chief Operating Officer, will become CEO of Phumelela’s South African-based operations.
The two appointments flow from Phumelela and PGE’s incumbent CEO Jim Tennant stepping down at the end of July. Tennant (60) had intended to retire last December, but stayed on until a replacement was appointed. He has agreed to continue in a full-time capacity until at least the end of the year in order to ensure a seamless transition and to focus on certain key projects.
“I have enjoyed a challenging but stimulating nine years at Phumelela. I would like to thank my management team for their efforts and believe we can all be proud of having established a strong foundation that can be built upon into the future,” Tennant said.
Phumelela chairman Peter Malungani said the Phumelela board believed that Du Plessis and Attenborough would be a winning combination.
“Rian will initially be based in England and will focus on growing the business internationally beyond what can be accomplished organically. Phumelela’s stated vision is to become a worldwide leader in the informed betting market and Rian has a proven track record in transforming a South African business into an international player. This coupled with his financial expertise make him an ideal person to drive PGE’s expansion in the global market.
“David has 18 years experience in betting and gaming, plus a thorough working knowledge of every aspect of Phumelela’s business. He is thus well equipped to manage Phumelela’s core business in South Africa,” continued Malungani.
“I would like to thank Jim for his services to Phumelela over the last nine years, first as Financial Director and then as CEO, and for agreeing to stay on longer than he had planned,” Malungani added.
Du Plessis commented: “Phumelela has done exceptionally well to get South African horseracing onto a sound financial footing and through PGE has created a strong platform for international growth. It’s exciting to be entrusted to take it to the next level.”
Attenborough said: “The long-term sustainability of South African horseracing is key to PGE’s international strategy. The new structure will enable me to focus on maximising revenue locally, while simultaneously ensuring that Phumelela delivers the highest-quality product possible to both its local and international customers.”
Phumelela operates tote betting in seven of South Africa’s nine provinces and horseracing in four of them. Established in 1998, Phumelela was listed on the JSE in 2002 and was ranked fifth in the 2007 Business Times “Top 100 companies over the last five years”.
Gold Circle is the horseracing and tote betting operator in KwaZulu-Natal and the Western Cape, while PGE is a joint venture between Phumelela and Gold Circle that manages the two companies’ international business dealings. PGE is managed by Phumelela and owns the domestic and international broadcast and information rights to South African horseracing. PGE also has the worldwide betting-related broadcast rights to 30 of the UK's 59 racecourses (the Racing UK rights).
BACKGROUND
Rian du Plessis B. Acc: Qualified as a Chartered Accountant (South Africa) in 1985 and obtained a Higher Diploma in Tax Law from the University of the Witwatersrand in 1988.
He spent eight years in investment banking, initially with FirstCorp Merchant Bank and thereafter with Rand Merchant Bank (“RMB”) where he became joint CEO of RMB’s Corporate Finance Division.
Rian joined the Comparex Group in 1997. In his capacity as Director: Mergers & Acquisitions and International Finance, he was responsible for all of Comparex’s acquisitions as well as being Financial Director of the Group’s international business. He was appointed Chief Executive Officer of Comparex Holdings Limited in 2000. At the invitation of the board of directors of Comparex Holdings Limited and with effect from 1 November 2002, Rian led a team of European managers in a management buy-out of the Group’s European businesses. Initially as CEO and later as Chairman, he managed the turnaround of Comparex in Europe within 19 months.
David Attenborough MBA: Prior to joining Phumelela in September 2003, David managed the licensing and development division of British bookmaking chain Ladbrokes/Hilton for five years. He was later transferred to Africa, where he was responsible for the development of casinos and other gaming opportunities for the group for a further five years. In 2001, he became Vice-President of Development for African Lakes Corporation, a UK listed company specialising in IT connectivity and an ISP provider in 20 African countries.
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