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Notice of changes to the composition of the Massmart board and committees
Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
Company registration No. 1940/014066/06
JSE Code: MSM
ISIN: ZAE 000152617
("Massmart" or the "Company")
NOTICE OF CHANGES TO THE COMPOSITION OF THE MASSMART BOARD AND COMMITTEES
In accordance with paragraph 3.59 of the JSE Limited Listings Requirements, the Massmart Board of Directors
(the “Board”) wishes to advise shareholders of the following:
CHANGES TO BOARD OF DIRECTORS
The Board hereby announces the resignation of Mr Enrique Ostalé from the Board of Directors with effect from
25 February 2020. Mr Ostalé will retire from Walmart in March 2020.
Walmart have nominated Mr Charles Redfield for election to the Massmart Holdings Limited Board as a
non-executive Director with effect from 25 February 2020. Mr Redfield is currently the Executive Vice President,
Food, for Walmart U.S., where he is responsible for the overall strategy, assortment, private brands and
sourcing for all of the Walmart U.S. food categories. Mr Redfield is a seasoned retailer and has held various
positions of responsibility within the Walmart business, as well as with other global retailers. Mr Redfield has a
Bachelor of Science Degree in Business Administration from the University of Arkansas. He is on the board of
the global Walmart Foundation, as well as the boards of Arkansas Children’s Hospital Northwest, the Razorback
Foundation at the University of Arkansas, and Bentonville based Arvest Bank.
CHANGES TO THE BOARD COMMITTEES
Mr Ostalé resigns from the Massmart Remuneration Committee and Massmart Nominations Committee with
effect from 25 February 2020.
Having received a nomination from Walmart and on recommendation received from the Nominations
Committee, Mr J.P Suarez is appointed as a member of the Massmart Remuneration and Nominations
Committee with effect from 25 February 2020.
The Board extends its thanks to Mr Ostalé for his valuable insight and contribution to the Board and Massmart
and wishes him well on his retirement.
The Board wishes Mr J.P Suarez all of the best in his expanded role on the Board.
26 February 2020
Sponsor
JP Morgan Equities South Africa (Pty) Ltd
Date: 26-02-2020 05:34:00
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