Royden T Vice

Non-Executive Chairperson

Royden is the Chairperson of the Board, a position he has held since 2012. Royden is currently a non-executive director of three listed companies; he is Chairperson of Hudaco Industries Limited, a non-executive director of Murray & Roberts Holdings Limited and of Life Healthcare. Previously, Royden was the Chief Executive Officer of Waco from February 2002 to 2011. Prior to working at Waco, he was the Chief Executive Officer of the Industrial and Special Products division of The BOC Group from 1998 to 2001. Royden was previously Chairperson of African Oxygen Limited, Afrox Healthcare Limited and Consol Limited, all JSE-listed companies. Royden has extensive global leadership experience, having lived and worked on three continents: North America, Europe and Africa.

Ewan Gray

Non-executive Director

Ewan, a CA(SA), graduated from the University of Stellenbosch in 2006 with an Honours in Accountancy. In 2010 he completed his training articles at KPMG in Cape Town. Post articles Ewan joined Standard Bank in Johannesburg on their Flagship programme, a strategic leadership programme for newly qualified CA’s. In 2011 he joined Rand Merchant Bank in their Global Markets division focusing on emerging markets credit risk, specifically African commercial and developmental financial institutions. He joined RMB Ventures in 2013.

Jos T van Zyl

Non-Executive Director

Jos serves as a non-executive Director of the Company, a position he has held since 2012. Jos is a Partner and Chief Operating Officer at Ethos Private Equity. Since joining Ethos in 2006, Jos has been involved in the execution of various Ethos transactions. Prior to Ethos, he worked at Fieldstone Private Capital Group, an investment banking firm with a focus on energy and infrastructure financial advisory. His other previous relevant work experience includes advisory work for Anglo American plc as part of its Corporate Finance team and auditing work at Coopers & Lybrand Inc. In the recent past, he served as a director of Plumblink SA (Proprietary) Limited.

Jonathan Matthews

Non-executive Director

Jonathan joined Ethos in September 2014 as a transacting partner. With over 12 years of private equity and corporate finance experience gained at Actis, Standard Bank and Dresdner Kleinwort Wasserstein, he has an extensive African private equity network, with a strong deal orientation. Jonathan played deal-lead roles in Actis’ AutoXpress investment in Kenya, the acquisition of Compuscan and in the buy-out of Savcio for Actom. He also played significant deal roles in the acquisitions of both Actom and Tracker. Jonathan enjoys a wide range of sporting and outdoor leisure activities including golf, tennis, fly-fishing, snow skiing and surfing. He is the proud father of three. He holds a Bachelor of Business Science (Hons in Finance) degree from the University of Cape Town. He is a CFA Charter Holder and member of the South African Institute of Chartered Accountants.

Cassim Motala

Non-Executive Director

Cassim Motala is a private equity transactor at RMB Ventures. He joined RMB through the Class-Of programme in 2007. RMB Ventures was his first rotation and he joined the team full-time a year later. He began his career by spending 7 years as part of a successful internet gaming start-up business, working his way up into general management. He later bought into and joined a wheel and tyre distribution and retail business before exiting and joining RMB. Cassim holds a Masters in Business Administration (UCT) and an Associate in Management (UCT).


Stephen JM Goodburn

Chief Executive Officer

Stephen is the Chief Executive Officer of the Company and was appointed to this position in July 2011. Previously, Stephen was appointed as the Group Senior Management Accountant of Waco in 1996 and was promoted to the position of Group Financial Director in 1997. Prior to joining Waco, Stephen was employed by the Gentyre Group, then a subsidiary of Waco, from 1990 to 1996, where he held a number of senior positions. Stephen had a significant role in the management of Waco during and after the leveraged buyouts in 2000 and 2012, and gained significant international experience through the management of these processes.


Mark R Towler

Group Treasurer and Company Secretary

Mark joined Waco as Group Treasurer in October 1993 which he continues to manage in addition to his duties as Company Secretary. He previously headed Treasury Divisions of Dorbyl Ltd and Samancor Ltd. Mark has a Bachelor of Commerce.