Mr Chris Nenzani was elected as President and Dr. Peter Cyster as Vice-President at the Annual General Meeting of Cricket South Africa on Saturday. Mr. Nenzani will automatically serve as chairman of the Board of Directors as well.
The other five non-independent directors were elected as follows: Mr. Andy O’Connor, Mr. Beresford Williams, Mr. Graeme Sauls, Mr. Fa-eez Jaffar, Mr. Rihan Richards.
Mr. Eugene Pretorius, Mr. Rudi Claasen and Mr. Leon Crawley withdrew from the election.
The five independent directors were elected as follows: Advocate Norman Arendse, Mrs. Dawn Mokhobo, Mr. Vusi Pikoli, Mr. Louis von Zeuner and Mr. Mohamed Iqbal Khan.
The following were elected to the audit committee: Mr. Vusi Pikoli, Mr. Louis von Zeuner and Mr. Mohamed Iqbal Khan. Mr. Von Zeuner will chair this committee.
The meeting 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 realized an operating loss of R47-million for the 2012 year compared to a profit the previous year of R295-million. 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 R474-million.