| Comair's shares fell yesterday after long-time leader Pieter van Hoven resigned as independent non-executive director on the airline's board as pressure mounted over the length of tenure of many of its members. While Van Hoven's independence was questionable following his 28-year stint as MD and eight-years as chairman, which ended in October, he was clearly an asset after piloting the airline for so many years. Bidvest CEO Lindsay Ralphs, who took over as chair in October, justified keeping Van Hoven on as a director due to his track record and experience. Corporate governance and independent directors are crucial, but with a new CEO at the helm and a number of new directors set to replace the recently departed, institutional memory has clearly been lost. More on the latest Coair board changes in today's newsletter, along with Aveng's latest blow after Legacy Group's Seventy Five on Maude moved to terminate its contract for the Leonardo mixed-use skyscraper in Sandton. Meanwhile, there has been progress on plans to buy out minorities and delist specialty chemicals group Rolfes. Finally, with the local property sector facing increased uncertainty, should you invest offshore to diversify your portfolio away from the local economy, which represents less than 1% of the world economy? Click here to find out more about an offshore investing opportunity. Have a good day. Stephen Gunnion Managing Editor, InceConnect | 