Cadiz Says Founder, Former Chairman Resigned as Director

Raymond Cadiz, a founder and former chairman and chief executive officer of Cadiz Holdings Ltd., has resigned from the South African company’s board.

Cadiz, which owns a stock broker and money manager, has appointed Lulamile Lincoln Xate as a director, it said in a statement Tuesday.

Raymond Cadiz sold all his shares in the company to a management-led group, Cadiz Holdings said in a March 20 statement.