Major moves afoot at HerdBuoys

In the initial phase of the process, 26% of these shares will be held in the Abelusi Trust for previously disadvantaged HerdBuoys McCann-Erickson staff members. Following the completion of the initial phase, the remaining 23% of the shareholding will then become available as part of the second phase of the exercise.

HerdBuoys was founded by Vundla, Ntshingila and Serenyane in 1991. In 1997, a joint venture with international group McCann-Erickson led to the formation of HerdBuoys McCann-Erickson.

Ntshingila says: "HerdBuoys is now where we hoped it would be when we founded the agency over a decade ago. We started the business with the intention of not only enhancing our own careers and improving our lives but with the aim of assisting and empowering other previously disadvantaged individuals. We have now embarked upon the final steps in fulfilling this goal."

In addition to the empowerment initiative a number of changes have been made to the management structure. Ntshingila moves from his position as managing director to that of co-chairperson along with Serenyane who also remains the head of strategy at the agency. Vundla takes on the position of chairperson of the Abelusi Trust where he will oversee the allocation of shares whilst former deputy managing director Ann Muthuma replaces Ntshingila as managing director.

Muthuma says: "We are very proud and excited about this new phase that the agency is entering into and believe it will not only empower our people but allow us concentrate on the fundamentals of our business which is to focus on invigorating our growth, delivering the best possible service in every market and discipline in which we operate and ultimately in generating demand for our clients brands. Our legacy of transformation forms an important part of who HerdBuoys McCann-Erickson is, and so equally does our commitment and dedication to ensuring effective consumer communications for our clients."

International McCann-Erickson spokesperson Jan de Kok says: "We see the initiative as an extremely positive step for the empowerment process not only in the advertising industry, but in context of the South African economy as a whole and it is thanks to the goodwill of the founding HerdBuoys shareholders that this scheme has been made possible."