Basil Read appoints Neville Nicolau as its new CEO
2014-07-28 · Industrial Developments news
By Andries Mahlangu
Construction group Basil Read Holdings has appointed Neville Nicolau as its new CEO with effect from September 1.
Mr Nicolau was previously the CEO of Anglo American Platinum (AMS) and chief operating officer and executive director at AngloGold Ashanti (ANG).
Nicolau replaces Marius Heyns‚ who retired in May this year after 10 years at the helm of the struggling small-cap company.
In its most recent trading update‚ Basil Read said it expected its headline earnings per share in the six months to June to decline by as much as 270% from a year ago. The company has not paid dividends since 2010.
The stock‚ which is down 23% so far this year‚ is trading at R6.70 per share as of Friday.
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