Calgro M3 Holdings Limited announced that Mr. Ben Pierre Malherbe will step down as Chief Executive Officer of the company on 28 February 2017 and will be appointed as a Non-executive Director with effect 1 March 2017. Mr. Willem (Wikus) Jakobus Lategan has been appointed by the Board to replace Mr. Malherbe as Chief Executive Officer with effect from 1 March 2017. Mr. Lategan was appointed Financial Director in August 2008, and was promoted to Managing Director on 1 June 2015.

The position of Managing Director was created as part of the succession plan and will now fall away. Mr. Manda Nkuhlu will join the board as an Executive Director of the company with effect from 1 March 2017. Mr. Nkuhlu joined the company on 1 September 2014 with extensive knowledge and experience in the residential property development sector.

He was appointed as a member of the company's executive committee on 1 May 2015, as part of the succession plan. Mr. Malherbe is one of the founding members of Calgro M3 and was appointed as Chief Operations Officer in November 2007. He was promoted to the position of Chief Executive Officer on 1 February 2009.