Key Points:
- Christopher Seabrooke to retire from Transaction Capital by December 31, 2024, after 15 years of service.
- Seabrooke played a pivotal role in Transaction Capital’s growth and governance, aiding its public listing.
- Transaction Capital seeks a successor as Seabrooke concludes his advisory and committee roles.
Transaction Capital, a leading South African financial services group led by leading business executive Jonathan Jawno, has announced the upcoming retirement of its long-serving director Christopher Seabrooke, who ranks as one of the richest individuals in the country.
Christopher Seabrooke to exit by year-end
According to a group communique published on the Johannesburg Stock Exchange (JSE), Seabrooke, a prominent South African businessman, will formally step down at the end of December 2024 at the age of 70. This aligns with the Johannesburg Stock Exchange (JSE) listing requirements. Seabrooke’s distinguished tenure began in June 2009 when he joined the board. He became the independent non-executive chairman in March 2010.
His leadership proved pivotal, particularly in Transaction Capital’s formative years leading up to its listing. Seabrooke played a key role in establishing best practices in governance, paving the way for the group’s public offering and subsequent growth. He served as a critical advisor to the founders, management, and the board, significantly influencing the group’s strategic direction.
The Board expressed its sincere gratitude to Seabrooke for his exemplary leadership and significant contributions. They acknowledged his crucial role in the past year as Independent Chairman of the Mobalyz Debt Sustainability Committee and the Mobalyz Lenders Forum. He remains committed to finalizing the Mobalyz debt restructure until December 31, 2024.
Seabrooke’s retirement caps longstanding role at Transaction Capital
Seabrooke’s decision to retire follows a series of transitions. In December 2022, he stepped down as the group’s independent non-executive chairman, becoming a non-executive director. This allowed him to continue serving on the Remuneration and Nominations Committee and the Audit and Risk Committee. He will also step down from these committees upon his retirement.
His retirement marks a significant milestone for Transaction Capital. His influence on governance and strategic decisions has been instrumental in the group’s recent growth. The company is actively seeking a successor to build upon his legacy.
Separately, Seabrooke holds an indirect interest in Transaction Capital through Sabvest Capital Limited, where he serves as CEO. Sabvest Capital owns 6 million shares in Transaction Capital, making him a minority shareholder in the South African investment holding company.
