Stefanutti Stocks chair Zanele Matlala to retire after August AGM

Stefanutti Stocks Holdings Limited, South Africa’s construction leader, has announced that its chairperson, Zanele Matlala, will retire from the board at the company’s annual general meeting (AGM) scheduled for August 7, 2026.

Her departure marks a transition at the South African construction group, where she has played a key leadership role in board governance and strategic oversight.

The company said Matlala, the long-serving chief executive of Merafe Resources, has served on the board since 2012, will step down as chair of the board, chairman of the Nominations Committee (NOMCO), and as a member of the Remuneration Committee (REMCO) with effect from the AGM date.

Leadership transition at Stefanutti Stocks’ board level

Stefanutti Stocks confirmed that following her retirement, Howard Craig will assume the role of chairman of the board effective August 7, 2026.

As part of the transition, Craig will step down from his current roles as a member of the Audit and Risk Committee (ARCO), the Social and Ethics Committee (SECO), and as chairman of REMCO, although he will remain a member of REMCO. He will also take on the role of chairman of NOMCO.

In a further board reshuffle, Bharti Harie will be appointed chairman of REMCO and will join the Social and Ethics Committee on the same date.

Board refresh with new independent director

The company also announced the appointment of Errol Tate as an independent non-executive director, effective June 18, 2026. He will serve on the Audit and Risk Committee, Remuneration Committee and Nominations Committee.

Tate brings more than four decades of experience in the civil engineering and construction industry, spanning both design and execution. He previously served as an operations director at a listed construction company for approximately 17 years, during which he contributed to the delivery of large-scale infrastructure projects.

The board confirmed that Tate has undergone an independent “fit and proper” assessment in line with JSE Listings Requirements and has affirmed his integrity through the standard director declaration process.

End of tenure for a seasoned executive

Matlala’s exit brings to a close more than a decade of board-level involvement at Stefanutti Stocks, where she contributed to governance, executive oversight, and board committee leadership.

Beyond the company, she is widely recognized in South Africa’s corporate sector as the long-serving chief executive of Merafe Resources, a role she has held since 2012 after previously serving as chief financial officer.

Her earlier career includes senior finance roles such as Group Financial Director at Kagiso Trust Investments and chief financial officer at the Development Bank of Southern Africa.

Matlala also serves as a non-executive director across several listed and private entities, reflecting a broad footprint in corporate governance across the country.

Stefanutti Stocks expressed appreciation for her “valued contributions and guidance over the years,” noting her influence in shaping board effectiveness and continuity.

Board continuity and outlook

The leadership changes come as Stefanutti Stocks continues to navigate a challenging construction sector environment, where governance stability and operational execution remain critical.

While the company has not provided additional detail on broader strategic shifts tied to the board changes, the appointments signal a structured succession plan aimed at maintaining continuity while introducing refreshed oversight at committee level.

Matlala’s departure represents the exit of a key governance figure, closing an important chapter in the company’s board evolution as it repositions for the next phase of leadership.