It was a little bit like musical chairs on the JSE's news service yesterday morning as Shoprite announced Christo Wiese's successor as chairman when he moves aside next month, while Spur Corporation announced two new executive appointments - and Consolidated Infrastructure Group lost one as a result.

Wendy Lucas-Bull must rank as one of the the most powerful women in corporate South Africa as she adds the Shoprite chair to a long list of current and past positions. She is also chairman of Absa and has had so many previous non-executive directorships that I can't list them all here. Executive positions included director at RMB Holdings and chief executive of FirstRand's retail businesses.

Meanwhile, something was also cooking over at Spur as it appointed two women as its incoming CEO and CFO. Former Famous Brands executive Val Nichas will replace Pierre van Tonder as CEO at the end of the year, while Consolidated Infrastructure Group CFO Cristina Teixeira has resigned to take up the same role at the restaurant group.

Investors took Metair's announcement that it had cancelled its 2019 final dividend in their stride, sending its shares higher yesterday. Ellies fared less well after its full-year loss widened and it warned that Covid-19 threatened its going concern position.

Finally, all the latest merger and acquisitions news courtesy of DealMakers.

Have a great weekend.

Stephen Gunnion

Managing Editor, InceConnect

The latest from Ingham Analytics

In "Outsized Big Five", Ingham Analytics examines the phenomenon, not of Kruger Park animals, but of the large tech stocks in the US that have been the driver of the top US equity indices this year. The equity markets in the US hit an all-time high in the early part of September, defying Covid-19 gloom. But the US may face a similar shock to GDP as other advanced countries: it may even be larger, yet the leading US equity indices don't show that. Why? The bear market of March was unusual - and short lived. Equity and debt markets are linked so herein lies a clue.

For investors in Prosus, Naspers and Tencent "Ant(icipating) a listing" will be of interest. With gold edging above $1,900/oz "All that glitters?" examines what is driving the metal and how to play it whilst "Uh-ho!" gives some useful tips on the risk-on, risk-off cycle over in the US.