Diversity will also be served as powerful Olufunke Ighodaro takes up Massmart post


Massmart, the Johannesburg based retailing group which is controlled by global American giant Walmart, announced some changes to its board including the appointment of Olufunke Ighodaro as non executive director and a member of audit and risk committees.

Ighodaro joins a board chaired by Kuseni Dlamini and in addition to her formidable experience and expertise, brings more diversity onto the R100 billion business which is growing its African footprint.

In a statement released via the JSE news service, Massmart noted that “Ighodaro´s accomplishments as a seasoned corporate executive have seen her play a vital and strategic role in a number of corporates, where she served and continues to serve in various governance structures.”

She currently serves as:

  • independent non-executive director and audit committee member of Datatec,
  • independent non-executive director of the Institute of Chartered Accountants in England and Wales Members´ Advisory Board for Africa,
  • independent non-executive director and chairperson of the audit committee at and interim executive director and
  • Chief Financial Officer of Emerging Markets Telecommunications Services (formerly Etisalat Nigeria, now trading as 9mobile).

Ighodaro has previously held various senior executive roles. These include:

  • Chief Financial Officer of Tiger Brands until 2016,
  • Chief Financial Officer of Primedia until 2011 and
  • Executive director of Kagiso Trust Investments and managing director of its private equity business until 2001.

Ighodaro holds the B.Sc (Hons) from Salford University and is a Fellow of the Institute of Chartered Accountants in England and Wales.

The Massmart statement said she brings “a wealth of experience and expertise earned in various sectors, including FMCG, corporate finance and investment management, media and telecommunications.

Massmart also announced that Chris Seabrooke, the current Deputy Chairman of the Board, the Lead Independent Non-Executive Director and Chairman of the Massmart Audit, Risk and Remuneration Committees, will retire from the Board and its Committees with effect from 30 September 2018. And Phumzile Langeni, the current chairperson of the Social & Ethics Committee and member of the Nominations and Remuneration Committees will succeed Seabrooke as the Chairman of the Remuneration Committee.

The group also announced that Kuseni Dlamini, the Chairman of the Massmart Board resigns as an alternate member of the Audit Committee with effect from 25 May 2018.

This articles was first published in SATopShops.


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