James Formby, the chairperson of Pick n Pay, has been named as the lead independent director of Vukile Property Fund. <\/p>\n\n\n\n
Formby was already on Vukile’s board and will take over as lead independent director from Dr Renosi Mokate at the group’s AGM in September 2026. <\/p>\n\n\n\n
Formby will retain current committee memberships at Vukile, being chairperson of the remuneration and human capital committee and a member of the audit and risk committee.<\/p>\n\n\n\n
Vukile is one of the largest REITs listed on the JSE with a primary focus on retail. The company primarily owns properties in Spain, Portugal and South Africa, and recently expanded into the Italian market.<\/p>\n\n\n\n
In addition to his work with Vukile, Formby has been chairman of Pick’n Pay since 2025, succeeding Gareth Ackerman, son of founder Raymond Ackerman. <\/p>\n\n\n\n
Formby was also the Chair of the Boxer Board when it listed on the JSE in November 2024. He handed the role over to Pick n Pay CEO Sean Summers in February 2026, but remains on the board. <\/p>\n\n\n\n
He was previously the CEO of Rand Merchant Bank (RMB), a position he held from 2015 to 2022. <\/p>\n\n\n\n
He joined RMB in 1997 and held several high-level executive positions, including Head of RMB Corporate Finance, Deputy Head of Investment Banking, and Head of Client Coverage.<\/p>\n\n\n\n
He holds an MPhil in Management Studies from the University of Cambridge and is a Chartered Accountant (SA). <\/p>\n\n\n\n
His new independent role on the Vukile Board is incredibly important, as Formby will need to mitigate conflicts of interest and protect the interests of minority shareholders. <\/p>\n\n\n\n
<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
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