"[Grieve] has had a long career with both Richemont and Reinet and I would like to thank him for his support over the past 28 years, during which time so much has been achieved," Johann Rupert, Chairman of Reinet Investments Manager South Africa, said in a statement.
"I am pleased to say that we will not lose his experience and knowledge of the business as he will remain as a member of the board of the Reinet companies."
[DATA REI:Reinet Investments] is an investment vehicle for Compagnie Financière Richemont SA (CFR), a luxury goods holding company headquartered in Switzerland. CFR was founded by Rupert, a prominent South African businessman.
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The chief executive role of both companies will be taken over by Wilhelm van Zyl, who is currently the deputy chief executive of financial services group [DATA MMI:MMI Holdings Limited].
"I would like to take this opportunity to welcome [Van Zyl]. He has a strong background in the financial services sector in South Africa and overseas and is looking forward to the new challenges which Reinet will offer him. I am sure he will be a great addition to the team and I look forward to working with him," Rupert added.