The board of construction and engineering group Group Five announced this week that it had appointed Eric Vemer as the company’s new CEO.

Vemer will start work on 1 December, taking over from Mike Upton, who had approached the JSE-listed group’s retirement age.

The Group Five board said in a statement that Vemer’s appointment followed an “extensive selection process from a group of carefully selected and competitive internal and external candidates”.

The 49-year-old Vemer, who joined Group Five in 2005, holds a BSc (Hon) Civil Engineering (First Class) and an MBA from the University of Cape Town. He also recently completed an executive development programme at Harvard University, in the US.

He is a member of the group’s executive committee and MD of the strong performing Investment and concessions cluster.

Vemer is also a key participant in the group’s strategy development group, leading many of the company’s acquisition and disposal activities, as well as empowerment transactions.