Eric Vemer appointed as Group Five’s new CEO - CNBC Africa

Eric Vemer appointed as Group Five’s new CEO

Southern Africa

by Trust Matsilele 0

Group Five has appointed Eric Vemer as the group's new CEO. PHOTO: Atterbury

The appointment of Vemer into South Africa's multidisciplinary construction group is effective from 1 December 2014.

Vemer will take over from Mike Upton who has reached the group’s retirement age.

This appointment allows for an orderly handover of responsibility for the future of the group over the coming two months to 1 December 2014. During this time, and for a period thereafter, Upton will support the transition and assume specific projects for the group.

(READ MORE: Group Five posts solid performance ahead of CEO’s retirement)

“His appointment follows an extensive selection process from a group of carefully selected and competitive internal and external candidates,” said Group Five in a statement.

“The board is pleased to announce that an internal candidate has been appointed and is confident that Eric will successfully lead Group Five into the future of the solid base created over the last few years.”

Vemer holds a BSc. Civil Engineering Degree and an MBA from the University of Cape Town and recently completed an executive development programme at Harvard University in the United States of America.

He joined [DATA GRF:Group Five Limited] in 2005 and the group says he has broad and geographically diverse experience in the engineering, contracting, consulting, manufacturing, project finance and infrastructure concessions sectors.

(WATCH VIDEO: Mike Upton - CEO, group 5)

Vemer was the managing director of the strong performing investment and concessions cluster and a key participant in the group’s strategy development group, leading many of the group’s acquisition and disposal activities and BBBEE transactions.