Premium: Following this non-exec has delivered huge returns. He’s just joined a new board.

Investors always take note when companies swap CEOs. The smart money, however, pays even more attention to changes in the boardroom. Because in every well governed business, it's the directorate which sets strategy. Management, including the CEOs, simply execute those plans..Yesterday's news that Bernard Swanepoel has become a director at penny stock Aveng is notable. The recently-turned 60 year old is a fiercely independent thinker. That's the kind of director who adds massive value. An astonishingly successful track record also tells us he's very picky. So would have reflected long and hard before accepting the Aveng appointment..Until Aveng, Swanepoel only served on two JSE-listed boards. When he joined Impala Platinum's directorate in July 2015, the share price was R50. It's now over R200. Two years ago when Swanepoel joined Omnia's board, its shares traded at R25. They're now R65.50..___STEADY_PAYWALL___.And consider this: During the decade (to 2014) when Swanepoel was a director of Sanlam, its shares went from R8.50 to R68. Co-incidence? Luck? Once, maybe. Thrice, not so likely. Plus, Piet Viljoen is an Aveng fan. Enough said..More for you today (click on linked headline to access) – .* Deutsche Bank Whistleblower Gets $200 Million Bounty for Tip on Libor Misconduct. The payout is the largest ever by the US's Commodity Futures Trading Commission..* China Evergrande makes overdue interest payment on dollar bonds. Chinese real estate developer sent $83.5m to the trustee for the dollar bonds, staving off default..* DWAC, the Trump social media SPAC, quadruples. Frenzied buying is similar to gains in special purpose acquisition companies earlier this year..NB FOR YOUR WALL STREET JOURNAL ACCESS….As a Premium subscriber you are entitled to full membership of wsj.com (normal price $29 a month). Be sure to action your access through the Premium link on the BizNews website. Because of The Wall Street Journal's credential requirements, be sure to create a password which has at least 8 characters and includes at least one letter and one number – NB it MAY NOT contain any special characters (ie #, !, @ etc). To maintain access to WSJ.com, you MUST enter our partner's website via BizNews Premium at least once a month. A final PS, if you had previously signed up for WSJ you'll need to clear the cookies from your device. Our help desk can assist – support@biznews.com..If you'd like to help sustain our independent voice, why not share the love by making a gift that keeps giving? Click here to access the BizNews Premium subscription signup form, and be sure tick the relevant box. At R100 a month and inclusive of full membership of The Wall Street Journal, it's a mind-expanding gift at an incredibly modest price.

Premium: Following this non-exec has delivered huge returns. He’s just joined a new board.

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