Ronnie Stein, the Chief Financial Officer of The Foschini Group Limited, will be retiring at the end of June 2015 after eighteen years with the Group and the past seventeen years as Chief Financial Officer. The board announced the appointment of Anthony Thunstrm as the Chief Financial Officer-Elect of the Group with effect from 1 February 2015. Anthony will assume the position of Chief Financial Officer on Ronnie's retirement at the end of June 2015.

Anthony is a chartered accountant with over 21 years professional experience across various industries. He has been responsible for running a number of regional and pan-African businesses for KPMG and most recently held the position of Chief Operating Officer for KPMG Africa. In addition, Anthony has served as a board member of KPMG South Africa and Chairman of their Audit Committee.