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Changes to the Composition of the Group's Board and Executive Management Team
ITALTILE LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1955/000558/06)
Share code: ITE ISIN: ZAE000099123
("Italtile" or "Group")
CHANGES TO THE COMPOSITION OF THE GROUP'S BOARD AND EXECUTIVE
MANAGEMENT TEAM
In compliance with paragraph 3.59 of the JSE Listings Requirements, shareholders are advised of the
following changes to the Group's Board and executive management team.
Resignation and redeployment of Chief Executive Officer ("CEO")
Lance Foxcroft, CEO of Italtile since January 2022, has informed the Board of his decision to step down
from his position with effect from 30 June 2026, citing increased family commitments. He will also
resign as a director.
Given his long-standing experience and continued commitment to the Group, Lance will be appointed
as CEO of Ceramic Industries ("Ceramic"). Having previously served as CEO of Ceramic from 2014 until
his appointment at Italtile, Lance's extensive expertise will be invaluable. He will be ably assisted by
the incumbent CEO, Gerard Maartens, who will be appointed as Chief Operating Officer ("COO") of
Ceramic. Gerard has wide-ranging experience across the company's factories and his new role will
provide vital support in partnering with Lance to drive growth in the business at a time when the
operating and competitive challenges facing Ceramic are extremely intense. Both appointments are
effective from 1 July 2026.
During his tenure as CEO of Italtile, Lance has played an instrumental role in driving the Group's
strategic transformation and growth in the retail and logistics segments. The Board extends its sincere
appreciation to him for his dedication and leadership and welcomes his contribution in his new role.
Appointment of CEO Designate
The Board is pleased to announce the appointment of Brandon Wood as CEO Designate of Italtile with
effect from 1 January 2026. Brandon is currently Group COO and his appointment is aligned with the
Group's long-standing structured succession plan.
Brandon held the position of Chief Financial Officer ("CFO") from 2013 to 2018 and again from 2020
to 2024. He was appointed as COO in 2024. Brandon also previously served as Group Executive Director
of the Commercial and Supply Chain and Retail divisions. More recently, in his capacity as Group COO,
he managed the successful transition of the Group's Ezee Tile business to a new facility and executive
team, and has supervised CTM's ongoing strategic turnaround programme in conjunction with the
Brand Leader.
Brandon will assume the position of CEO with effect from 1 July 2026, following the transition period.
The Board is confident that his business and industry insight, leadership skills, and wide-ranging
experience across the Group's operations will ensure consistency and continuity of Italtile's values and
strategic direction.
The Board congratulates Brandon on his appointment and looks forward to him driving the next phase
of the Group's growth.
The Board is satisfied that the changes outlined herein will achieve the Group's stated intent to build
management experience and expertise across the organisation to positively impact on attaining its
growth objectives.
Johannesburg
2 December 2025
Sponsor
Merchantec Capital
Date: 02-12-2025 02:41:00
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