Black-owned investment holdings firm Kagiso Tiso Holdings has appointed Paballo Makosholo as its Chief Executive Officer and Tshepo Setshedi as the new Chief Financial Officer with immediate effect.
Kagiso Tiso Holdings is an investment holding company which arose through the merger of Kagiso Trust Investments and Tiso Group. Among others, it owns Kagiso Media, which includes brands such as Jacaranda FM, Urban Brew Studios, and EastCoast Radio. Kagiso also has interests in HeartFM, Kaya FM and OFM, among others.
In a statement on Monday, Chairperson of KTH, Nkululeko Sowazi, said the company had reached a critical point which required "renewed leadership".
''We are at a critical moment and we need renewed leadership to successfully implement our strategy and take advantage of the market opportunities ahead.''
Sowazi added: ''We are fortunate to have someone of [Makosholo]'s calibre and experience step up to lead KTH.''
Makosholo has 12 years of experience at executive and board level and joins KTH from Kagiso Capital, where he was Chief Operating Officer. Kagiso Capital was established in 2014.
Makosholo also served as non-executive director of KTH since its creation in 2011, and chaired the investment committee. He currently serves as a director of FirstRand Limited.
His qualifications include an MComm South African and International Tax from the University of Johannesburg and an International Executive Development Program with Columbia Business School.
Of Setshedi, Sowazi said: ''[His] deep knowledge of KTH and as well as his financial acumen make him highly qualified to take on the CFO role.
''His appointment also ensures continuity, given his previous role in KTH and Kagiso Media, which is one of the significant assets in our portfolio."
Setshedi served as Chief Financial Officer of Kagiso Media, a wholly owned subsidiary of KTH. He was previously an executive at Kagiso Trust Investments and KTH Finance and Investment divisions.
Prior to joining KTI, he worked for Eskom Treasury and PricewaterhouseCoopers. He is currently chair of various group companies and a non-executive director on other boards including Kaya FM, Heart FM and Gagasi FM. He is a Chartered Accountant with in excess of 15 years' experience in finance, the statement said.