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.

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