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Johannesburg - Chris Nenzani was elected as president at the Annual General Meeting of Cricket South Africa on Saturday.
Nenzani will automatically serve as chairperson of the board of directors as well, with Peter Cyster named as vice-president.
The meeting also confirmed South Western Districts’ status as a full affiliate member of CSA without exception after being a conditional affiliate from the previous annual general meeting.
The annual financial statements were presented and unanimously approved. CSA has realised an operating loss of R47m for the 2012 year compared to a profit the previous year of R295m. Because of the reliance on broadcast income there will be a loss again next year and thereafter the company will return a substantial profit. This is why there is a rolling budget over a four-year period.
The cash flow position remains extremely strong with a cash reserve of R474m.
CSA's other five non-independent directors were elected as follows: Andy O’Connor, Beresford Williams, Graeme Sauls, Fa-eez Jaffar, and Rihan Richards, while Eugene Pretorius, Rudi Claasen and Leon Crawley withdrew from the election.
The five independent directors are: Norman Arendse, Dawn Mokhobo, Vusi Pikoli, Louis von Zeuner and Mohamed Iqbal Khan.
The following were elected to the audit committee: Vusi Pikoli, Louis von Zeuner and Mohamed Iqbal Khan. Von Zeuner will chair this committee.
Nenzani will automatically serve as chairperson of the board of directors as well, with Peter Cyster named as vice-president.
The meeting also confirmed South Western Districts’ status as a full affiliate member of CSA without exception after being a conditional affiliate from the previous annual general meeting.
The annual financial statements were presented and unanimously approved. CSA has realised an operating loss of R47m for the 2012 year compared to a profit the previous year of R295m. Because of the reliance on broadcast income there will be a loss again next year and thereafter the company will return a substantial profit. This is why there is a rolling budget over a four-year period.
The cash flow position remains extremely strong with a cash reserve of R474m.
CSA's other five non-independent directors were elected as follows: Andy O’Connor, Beresford Williams, Graeme Sauls, Fa-eez Jaffar, and Rihan Richards, while Eugene Pretorius, Rudi Claasen and Leon Crawley withdrew from the election.
The five independent directors are: Norman Arendse, Dawn Mokhobo, Vusi Pikoli, Louis von Zeuner and Mohamed Iqbal Khan.
The following were elected to the audit committee: Vusi Pikoli, Louis von Zeuner and Mohamed Iqbal Khan. Von Zeuner will chair this committee.
