Fresh information emerging from the Botswana Stock Exchange (BSE) is that its main committee has appointed the current product development manager, Thapelo Tsheole, as its new deputy Chief Executive Officer.
Tsheole’s new immediate role will be to deputise its current CEO Hiran Mendis whose work contract is ending before the end of this year.
The youthful corporate leader is also expected to carry on with BSE Product Development functions.
Currently BSE has seven managers’ portfolios in the whole organisation and has been operating without the substantive position of Deputy CEO.
Tsheole is viewed to have been instrumental at BSE in the implementation of the state of the art of the Automated Trading System (ATS) which has had unprecedented impact on the operations of the BSE.
Insiders at the local bourse describe his professional role as having been key as shown by his commitment through innovation and significant inroads with regards to introducing new products and reviving the bond market.
Furthermore, Tsheole has also been instrumental at the country’s national stock exchange when the NEW GOLD Exchange Traded Funds (EFT) was listed as the first EFT in the BSE in 2010 and also when BSE listed the second EFT the BETTABETTA EFT in 2011.
Tsheole, who recently completed his second Masters Degree, is also a Registered Person (RPE) under South African Institute of Financial Markets in and Agriculture Product Dealer with Financial Derivatives Division (SAFEX). He is equipped with two Masters in Business Administration (MBA) from the Graduate School of Business, University of Cape Town and MBA in Financial Markets.
Asked in a brief interview on Wednesday to provide the succession and progress in development of the identified candidate for the Deputy CEO post, Mendis referred this publication to BSE Main Board member of governance and remuneration sub-committee Elaina Gonsalves.“The process is ongoing and it will be announced soon,” said Mendis.
Currently BSE Chairperson of the Main committee is Patrick O’Flaherty and BSE members of governance and remuneration sub-committee members are Elaina Gonsalves and Iponeng Sennayana after the resignation of Peter Takirambudde in July 2012.
The committee is responsible for matters relating to corporate governance and practices of the BSE. It is also for the nominations of members to be appointed to the BSE committee and Sub committees as well as terms and conditions of employment for management of the BSE.