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Directors and Executive Management

Ronald Napier Name: Ronald Napier
Role: Chairman of the Board of Directors (Independent Non-Executive)
Group Nominations Committee Chairman
Group Remuneration Committee Member
Group Audit and Risk Committee Member
Ronnie is a former senior partner of law firm Webber Wentzel, having spent over 50 years practicing law. He presently serves as a consultant to the firm having retired as a partner in 2001. Ronnie is a former Lloyd’s representative in South Africa and also served on the Board of the South African Insurance Association for 20 years, having held the position of Chairman. He is the current Chairman of the Insurance Crime Bureau, Chairman of the Fire Protection Association, Chairman of Sunderland Marine Insurance Company and a Board member of Business Against Crime. Ronnie holds a BA LLB MA (Oxford) degree.
Jabulani Mahlangu Name: Jabulani Mahlangu
Role: Non-Executive Director (Independent)
Group Audit and Risk Committee Chairman
Group Nominations Committee Member
Group Remuneration Committee Member
Jabu completed his articles with PwC in 1996. He joined the Offices for Serious Economic Offences in 1998 and in 2000 returned to the offices of PwC where he was appointed as head of the PwC Forensic Services practice in Gauteng and was admitted as a partner in 2002. Jabu founded Ligwa Advisory Services and has a diverse client base. He has performed audit and forensic related assignments internationally and in addition carried out various statutory appointments. Jabu has served as Inspector of Companies in terms of the Companies Act, 61 of 1973, Curator in terms of the Financial Services Board Act, 97 of 1990 and as a curator bonis in terms of the Prevention of Organised Crime Act, 121 of 1998. Jabu holds a B.Com (Acc), B.Compt (Hons) and CTA, CA (SA) degree.
Rosetta Xaba Name: Rosetta Xaba
Role: Non-Executive Director (Independent)
Group Social and Ethics Committee Chairperson
Group Audit and Risk Committee Member
Rosetta is a chartered accountant and a registered auditor. She served her articles and qualified with KPMG in 2001. She worked up to manager level in internal and external auditing. Rosetta then moved to Deloitte Consulting, where she worked as manager for the Business Process Outsourcing unit, which specialized in public sector entities. This is where she gained invaluable experience in the public-sector industry. Rosetta is the founder and Director of Rossal No 98, a consulting, auditing and business advisory services company. She has been running the company since 2007. Through her company, she is able to provide auditing, accounting, business advisory services to the public sector, SMMEs and NGOs clients. Rosetta is currently a non- executive director at Technology Innovation Hub, a public entity under the Department of Science and Technology. She is a Treasurer and past Chairperson of the Little Eden Society for the Care of Persons with Mental Handicap. She is also a non-executive and Chairperson of the audit committee for FINBOND Limited Group. It is through her involvement in FINBOND Group Limited that she gained experience in the regulatory and compliance environment of the financial services sector.
William N Thorndike Jr. Name: William N Thorndike Jr.
Role: Non-Executive Director (Independent)
Will is the Founder and Managing Director of Housatonic Partners, a leading middle market private equity firm with offices in Boston and San Francisco. He has served as a Director of over 30 companies. He is currently a Director of Carillon Assisted Living LLC; Lincoln Peak Holdings LLC; OASIS Group Ltd; QMC International LLC and ZircoData Ltd. He is Chairman of the Board of Consol Energy (NYSE: CNX).

Will has also served as a Trustee of non-profit organizations, including Groton School (where he was Chair of the Finance and Nominating Committees) and the Stanford Business School Trust (where he was Chair of the Private Equity Committee). He is currently a Trustee (and incoming Finance Committee Chair) of WGBH in Boston and Board Chair at College of the Atlantic in Bar Harbor, ME. Will is also Senior Advisor to Brahman Capital, a public market investment fund based in Manhattan with ~$4 billion in assets under management. He is a graduate of Harvard College and the Stanford Graduate School of Business and is the author of The Outsiders, which has been translated into ten languages.
Adrian J Maizey Name: Adrian J Maizey
Role: Non-Executive Director
Group Investment Committee Chairman
Adrian is a partner at Protea Asset Management LLC (“Protea”) and a member of Riskowitz Capital Management LLC (the General Partner of Riskowitz Value Fund LP, a value investment fund) and has extensive experience in managing investment firms focused on controlling ownership stakes in both private and public companies. Adrian holds the Chief Financial Officer and President titles for Protea and, in this capacity, sources capital and investment opportunities, provides guidance to portfolio companies, evaluates and monitors investments, and is responsible for Protea’s financial, legal, regulatory, marketing and tax activities. Before joining Protea, Adrian was Chief Operating Officer and Chief Compliance Officer of Leonard Green & Partners, LP, a Los Angeles based private equity firm. Prior to that, Adrian was a partner at Redbird Capital Partners LLC, a New York City based private equity firm. Adrian also formerly held the positions of Chief Financial Officer and Chief Compliance Officer of ESL Investments, Inc., a well-known value investment fund. Adrian was the CEO and founder of Rand Group, LLC which provided a full spectrum of support and advisory services to hedge funds and high net worth family offices including regulatory compliance, accounting, tax, estate, treasury, technology, administrative, and legal support services. Adrian was Chief Financial Officer of Motherrock LP, an energy derivatives hedge fund. Prior to that, Adrian spent a decade with Deloitte & Touche LLP (“Deloitte”) serving primarily the investment management and energy industries as a management consultant and member of Deloitte’s Financial Advisory Services, Corporate Finance, and Energy Trading Risk management practices. Adrian holds an MBA from Harvard Business School (2003) and a bachelor of Business Administration degree with distinction in Accounting from the University of Nebraska (1996) and is a Certified Public Accountant.
Leo Chih Hao Chou Name: Leo Chih Hao Chou
Role: Non-Executive Director
Group Investment Committee Member
Leo is the Executive Chairman of Sygma Investments, a private investment company based in Cape Town with holdings in International brand distribution, retail, niche logistics and investments in marketable securities and treasury management. Leo previously served as Chairman and CEO of Snowball Wealth, a privately held investment company, which was sold to Conduit Capital Limited. Leo has 15 years of investment and capital allocation experience. For the nine years that Leo managed Snowball, the net assets of the business grew more than 30 times. Leo attended Dale College in King William’s Town matriculating in 1999. He obtained his Bachelor of Commerce degree from the University of South Africa.

Leo founded Sygma Investments in 2005 to manage private equity and marketable securities investments. Through Sygma, he has experience in running businesses, managing restructurings, enforcing liquidations and building multi-million Rand businesses from scratch. Amongst others, Sygma built Brazilian Sandals Company, using the Havaianas trademark, from scratch to over R100 million in annual revenue. In 2009, Leo founded Snowball Wealth, a private investment company, that hold stakes in JSE-listed companies. He achieved annual compound (audited) returns of 31.8% for Snowball shareholders and grew assets from R15m to over R500m. Before launching Snowball, Leo managed a family investment portfolio that achieved an average annual pre-tax (unaudited) return of 37.4%. If the two records are combined, Leo managed to consistently earn over 30% per year for 15 years.
Sean Riskowitz Name: Sean Riskowitz
Role: Executive Director and Chief Executive Officer
Sean is a founding member of Midbrook Lane Proprietary Limited, a private investment company. He is the founder and Managing Member of Riskowitz Capital Management LLC (the General Partner of the Riskowitz Value Fund LP) and the Managing Member of Protea Asset Management LLC, and investment management business, both of which entities are incorporated in the United States of America. Sean has over a decade of formal investment industry experience. Sean holds a BCom (Fin) degree.
Lourens Erasmus Louw Name: Lourens Erasmus Louw
Role: Executive Director and Chief Financial Officer
Lourens studied at the University of Stellenbosch, after which he moved to Johannesburg and qualified as a member of the SA Institute of Stockbrokers. In 1996 Lourens was appointed Financial Director and Compliance Officer of stock broking firm Irish & Menell Rosenberg (Pty) Ltd and its successors in the Appleton Group. He remained with Appleton until June 2003 when he joined Conduit Capital. Lourens became the Financial Director of Conduit Capital in October 2004.
Gavin Toet Name: Gavin Toet
Role: Chief Operating Officer
Gavin was involved in the printing industry for 6 years. In 1999, he joined the Altmedia Group, where he ultimately held the position of General Manager. Gavin joined Conduit Capital in June 2005 and currently holds the position of Chief Operating Officer. He carries out a broad range of responsibilities, mainly operational in nature, and serves on numerous Boards and Executive Management Committees within the Conduit Group.