John Gnodde has been appointed as chief executive officer of Brait Private Equity, following a major restructuring of the company.
He takes over from Antony Ball who has resigned from the role. Ball will remain a non-executive director and will retain his commitments and responsibilities to the Brait IV fund.
Gnodde [pictured] joined Brait in 1995 and has been responsible for investments in consumer products, construction, pharmaceutical manufacturing, beverages, resources, mobile telecommunications, and recruitment outsourcing. Prior to joining Brait, Gnodde was at Goldman Sachs in London for six years , working in the investment banking division.
Gnodde’s appointment follows an intensive restructuring of the company – which includes a ZAR5.9 billion capital raising through a right’s offer.
The changes also see Brait become an European company through a merger with its Malta subsidiary. The deal will also see Brait move its registered office from Luxembourg to Malta.
As part of the new structure, Sam Sithole, Brait’s financial director, will resign from his role as an executive director of Brait SA.
Dr Christo Wiese, an anchor shareholder , has been appointed as a non-executive director.