JSE-listed integrated residential developer Calgro M3 has informed shareholders that CEO Wikus Lategan and Memorial Parks MD Waldi Joubert have resigned, with effect from December 31, to pursue other interests.

Ben Pierre Malherbe, who is a co-founder and former CEO of Calgro M3, will be returning to the company on September 16 as CEO-designate and as a member of the board to ensure a smooth handover and transition.

Further, Calgro M3 Developments MD Allistair Langson has been appointed as an executive director on the board, with immediate effect.

"The board would like to express its sincere gratitude to Lategan and Joubert for their significant contributions to Calgro M3 during their long and loyal tenures. Their leadership and dedication have been instrumental in the company's growth and success, and the board wishes them all the best in their future endeavours," the company said.

Under Lategan's leadership and 16-year tenure, Calgro M3 has transformed into one of South Africa's largest integrated residential developers.

Joubert had served as Group FD for seven years prior to his appointment as Memorial Parks MD in 2022. Under his leadership, Memorial Parks has grown to become a vital and thriving division within the group.

Meanwhile, Malherbe has a BSc in Quantity Surveying from the University of the Free State and an MBA from the Stellenbosch Business School.

"The board welcomes Malherbe to his new role as CEO-designate and board member, and is confident that he will leverage his extensive operational and strategic experience in the property development sector to continue to deliver on Calgro M3's growth strategy," it said.

Further, Langson has previously worked as senior counsel for a large private equity housing fund. A thought leader in the local property market, he has built a 15-year career around the idea that property and infrastructure are key to economic inclusion.

Langson joined Calgro M3 in 2017 and was appointed Calgro M3 Developments MD in March 2022.

"The board looks forward to Langson's continued contribution to Calgro M3 with his appointment to the board.

"These appointments, as well as the continued commitment and contribution of Calgro M3 FD Sayuri Naicker, will ensure a smooth transition post the departure of Lategan and Joubert," Calgro M3 said.