Reinet Investments S.C.A. (‘Reinet Investments’) is managed by Reinet Investments Manager S.A. (‘Reinet Investments Manager’), a société anonyme (limited company) incorporated in Luxembourg and has broad powers to carry out all management and administrative functions in compliance with Reinet Investments’ corporate objects. The board of directors of Reinet Investments Manager is responsible for the management of Reinet Investments and is required to act in Reinet Investments’ best interest. Reinet Investments Manager is controlled by Rupert family interests.

The members of the board of directors of Reinet Investments Manager are set out below:


Johann P Rupert

JOHANN RUPERT
Chairman
South African, born 1950
Mr Rupert was appointed to the Board of Directors in 2008.

Mr Rupert studied economics and company law at the University of Stellenbosch, South Africa. After working for the Chase Manhattan Bank and Lazard Frères in New York, he founded Rand Merchant Bank in 1979. In 1985 he joined Rembrandt. He founded Richemont in 1988 and became Group Chief Executive. Appointed as Executive Chairman in September 2002, he also served as Group Chief Executive Officer during the periods from October 2003 to September 2004 and from April 2010 to March 2013. He was Chairman of CFR SA up to September 2013, when he indicated his intention to step down from the board of that company during a sabbatical year. He was re-elected as Chairman of CFR SA in September 2014. He is also Non-Executive Chairman of Remgro Limited, is the Managing Partner of Compagnie Financière Rupert and serves as a director of Renshaw Bay (UK) Limited.

Mr Rupert holds honorary doctorates in Law, Economics and in Commerce and is the Chancellor of the University of Stellenbosch. He is the Chairman of the Peace Parks Foundation.


Wilhelm Van Zyl

WILHELM VAN ZYL
Chief Executive Officer
South African, born 1965
Mr van Zyl was appointed to the Board of Directors in 2014 and appointed Chief Executive Officer with effect from January 2015.

Mr van Zyl holds a BCom degree from the University of Stellenbosch and qualified as a Fellow member of the Institute and Faculty of Actuaries (United Kingdom) in 1994. He is also a Fellow member of the Actuarial Society of South Africa and completed the Harvard AMP program in 2005. Mr van Zyl was group actuary of the financial services group Metropolitan Holdings from 2001 and headed up its corporate business from 2006. In 2008 he was appointed as a director and chief executive of Metropolitan Holdings. Following the listing of MMI Holdings in 2010, resulting from the merger between Metropolitan and Momentum, he was appointed as a director and deputy group chief executive with oversight of the group’s health, international, investments and employee benefit operations. He currently also serves on the board of Pension Insurance Corporation plc and is also a director of the Investment Advisor and of various subsidiaries of Reinet Fund.


Alan Grieve

ALAN GRIEVE
Non-Executive Director
British, born 1952
Mr Grieve was appointed to the Board of Directors in 2008. He retired as Chief Executive Officer in December 2014.

Mr Grieve served as Chief Financial Officer from 2008 to 2011 and as Chief Executive Officer from 2012 to 2014. He remains on the Board of Directors as a Non-Executive Director of both the General Partner and Fund Manager.

Mr Grieve was appointed to the board of directors of Richemont S.A. (the predecessor company to Reinet Investments S.C.A.) in 2004. Mr Grieve holds a degree in business administration from Heriot-Watt University, Edinburgh and is a member of the Institute of Chartered Accountants of Scotland. Prior to joining Richemont’s predecessor companies in 1986, he worked with Price Waterhouse & Co (now PricewaterhouseCoopers) and Arthur Young (now Ernst & Young). He served as company secretary of CFR SA from 1988 until 2004 and was corporate affairs director of Richemont from 2004 to 2016. He is a Non-Executive Director of Mediclinic International plc (formerly Mediclinic International Limited), the international private hospital group.


Josua Malherbe

JOSUA MALHERBE
Non-Executive Director
South African, born 1955
Mr Malherbe was appointed to the Board of Directors in 2009.

Mr Malherbe qualified as a chartered accountant in South Africa in 1984 having commenced his career with the predecessor firm to PricewaterhouseCoopers. He then joined the Corporate Finance Department of Rand Merchant Bank in 1985 and was a general manager of the bank before moving to Rembrandt Group Limited in 1990, also being involved with Richemont at that time.

He was appointed as Director - Investments of Rembrandt in 1993 and served in this position until the formation of VenFin Limited in 2000 where he served as Chief Executive Officer until 2006. Thereafter he held the position of Deputy Chairman of VenFin Limited until November 2009 at which time Remgro Limited acquired all the shares in VenFin Limited. He was appointed as a Non-Executive Director to the board of CFR SA in September 2010 and assumed the role of Deputy Chairman in September 2014. He also serves as a director on boards of a number of companies, including Remgro Limited (appointed Deputy Chairman in November 2014), Pension Insurance Corporation Group Limited and Renshaw Bay Limited.


Eloy Michotte

ELOY MICHOTTE
Non-Executive Director
Belgian, born 1948
Mr Michotte was appointed to the Board of Directors in August 2008.

Eloy Michotte

Belgian, born 1948
Mr Michotte was appointed to the Board of Directors in 2008.

Mr Michotte graduated in engineering from the University of Louvain in Belgium and holds an MBA from the University of Chicago. He has had an extensive career in international business and finance and worked for Ford, McKinsey & Co and Bankers Trust Company prior to joining Richemont at the time of its formation in 1988 when he was appointed to the board of directors of Richemont S.A., the predecessor company to the Company.

Mr Michotte serves on the boards of a number of companies in which Reinet holds an interest. In particular, he is a director of Pension Insurance Corporation Group Limited and of Pension Insurance Corporation plc.