South African retailer Truworths International said Friday that Chairman Hilton Saven will retire from the board after the company’s annual general meeting on Nov. 5, ending more than 23 years with the retailer.

Saven joined the Truworths board in February 2003 and became chairman in May 2004. His departure will mark the end of one of the longest tenures in the company’s recent corporate history.

“During more than 23 years of service, he has made an exceptional contribution to the leadership, governance, and development of Truworths,” the company said.

The board also praised Saven for his judgment, commitment and leadership, saying his advice had been valued by both directors and management over the years.

Hawinkels to take over as Truworths chairman

Non-executive director Hans Hawinkels will succeed Saven as chairman following the AGM. Hawinkels joined the Truworths board in February 2018 and currently chairs its remuneration committee.

After taking over as chairman, Hawinkels will join the Social and Ethics Committee and chair the Nomination Committee. He will step down as chairman of the Remuneration Committee but remain a member.

Truworths said the board has not yet considered appointing a replacement lead independent director. If it decides such a role is needed, the company will make a further announcement.

Hawinkels has also received the board’s backing as he prepares to take on the top board position.

Outside Truworths, Saven is chairman of Balwin Properties and Lewis Group. He previously served as co-CEO and chairman of Mazars, the international audit, accounting and consulting firm, and chaired Praxity, an international alliance of accounting firms.

Retailer faces tougher market

Hawinkels takes over at a challenging time for Truworths, which has struggled to deliver strong growth as competition in South Africa’s apparel market has intensified.

Truworths group retail sales decreased by 0.9% to R21.8 billion ($1.36 billion) for the 52 weeks ended June 28, 2026 from R22 billion ($1.37 billion). Sales in the African market dropped 2.1% to R14.2 billion ($885.96 million), whereas the United Kingdom segment rose 4.9% in pound terms, cushioned by a stronger rand-pound exchange rate later in the year.

Truworths has said it is pursuing several initiatives to improve the performance of its South African operations.

Founded in 1917, Truworths International is listed on the JSE and Namibian Stock Exchange. The Cape Town-based group operates Truworths in South Africa and Office in the United Kingdom.

The company remains one of South Africa’s best-known apparel retailers, with brands including Daniel Hechter, Uzzi, Ginger Mary and Naartjie.

Its leadership structure has also been relatively stable. CEO Michael Mark has led the business for 38 years, while Sarah Proudfoot and Emanuel Cristaudo became joint deputy CEOs in 2022 as part of a succession plan.

Truworths shares have fallen by 9.2% this year. Still, the stock gained about 2% Friday after the company announced Saven’s planned retirement.