July 5 2024 17:00
TUHF Group’s founding CEO, Paul Jackson, has reached retirement age and will be stepping down from his position as TUHF’s CEO at the end of December 2025. TUHF’s board has begun the process of appointing a new CEO with an 18-month succession plan to manage a smooth transition.
The appointment of the CEO is governed by the Board Charter with the process delegated to the Remuneration and Nominations Committee (Remco) of TUHF. Five members of the Board under the leadership of the Remco chairman Mr Samson Moraba will be responsible for carrying out the process and ultimately the appointment of the new CEO.
The Board has begun the search for Paul’s successor and appointed Macdonald & Company real estate recruitment specialists to support this search with expectations that the interview process will commence late this year or early in 2025. With the new CEO expected to be appointed by June 2025, Paul will still work closely with the individual over the final six months of his tenure.
Jackson founded TUHF in June 2003. Since then TUHF has financed more than 50,000 residential units and injected more than R8.3bn into urban housing, with a focus on inner cities. TUHF is set to roll out a new expansion strategy as it addresses the evolving demand for affordable housing across South Africa in inner cities, as well as in townships.
“I would like to take this opportunity to thank Paul for his stewardship over TUHF for the last 21 years and helping create the foundation of a resilient organisation that is perfectly positioned to capitalise on growth opportunities across Africa,” said Samson Moraba, Non-Executive Director for TUHF.
“We have been spending the past several months informing investors of Paul’s impending retirement and have been busy with a comprehensive succession planning strategy since before the pandemic. We as a board are confident that the leadership team is in place to take all the Group’s businesses forward and take the brand even higher to nurture micro-economies and help create well-located affordable housing for all,” he said.
alistair@propertyflash.co.za
