Danie De Wet somehow makes it back to the chair despite the votes

It took a couple of tricks of the (big-business, company) trade to get well-known wine personality Danie de Wet to remain as chairman of the KWV after the company’s AGM this week.

Although the Black Association of the Wine and Spirits Industry (Bawsi) had actively opposed De Wet’s re-election, it doesn’t seem as if its efforts caused the hiccup, which was apparently caused (according to the report by Ronnie Morris in Business Report) by  ‘tensions between De Wet and a major shareholder’. After a recount of votes for re-election of sitting directors was demanded, it turned out that De Wet hadn’t made the grade. The other directors would have none of it. As Morris reports, they simply invoked some clause which allowed him to be appointed as a director - after which he was re-elected ‘unanimously’ as chairman.

The other directorial surprise was the addition to the ranks of Victor Christian, who chairs Phetogo, the black economic empowerment consortium with just over a quarter of KWV’s shares. bought 25.1 percent of KWV in 2004.
 

• Click here for the full report in Business Report