Simonds Group Limited announced important changes to the role of its Executive Chair and the appointment of a new Chief Executive Officer. Having served in the dual capacity of Executive Chair and CEO since 2021, Mr. Rhett Simonds will serve solely as Executive Chair, with effect from 3 November 2023. This allows Mr. Simonds to focus on key strategic issues, including the under-supply of housing facing the nation, key external relationships and other important growth opportunities for the Company.

Having served alongside Mr. Simonds in the turnaround of Simonds since January 2023 as Chief Financial Officer, Mr. David McKeown will be promoted to the position of Chief Executive Officer. This provides a seamless transition and allows Mr. McKeown to continue to deliver on the turnaround of the core business built under Mr. Simonds' leadership including the return to profit for Simonds as announced on 10 October 2023. Mr. Bertus Strydom will serve alongside Mr. McKeown as Chief Financial Officer.

Mr. Strydom, the current Executive General Manager Finance, served as Interim Chief Financial Officer for a period before Mr. McKeown's appointment to the role.