TBS - Tiger Brands Limited - Early Retirement Of Chief Executive Officer
TBS
TIIH
TBS - Tiger Brands Limited - Early Retirement Of Chief Executive Officer
TIGER BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN code: ZAE000071080
("Tiger Brands" or "the Company")
EARLY RETIREMENT OF CHIEF EXECUTIVE OFFICER
Tiger Brands announces that Mr Nick Dennis, the Chief Executive Officer of the
Company, has advised the Company of his intention to take early retirement as
Chief Executive Officer and to resign as director of the Company with effect
from the conclusion of the Annual General Meeting of Shareholders that is
scheduled to be held on 19 February 2008.
The Board of Tiger Brands has accepted the early retirement of Nick Dennis.
In his notice to the Board of Directors of his intention to take early
retirement, Nick Dennis has advised that he believes that his decision to take
early retirement is appropriate and in the best interests of the Company.
Lex van Vught, the Chairman of the Board, said that the necessary processes have
been initiated on an urgent basis with regard to the appointment of a successor
for Nick Dennis as Chief Executive Officer of Tiger Brands.
Lex van Vught acknowledged the very significant contribution that Nick Dennis
has made to Tiger Brands over his many years of service and the undoubted
shareholder wealth that he has played a leading role in creating.
Lex van Vught also acknowledged the principled stance that has been taken by
Nick Dennis in reaching his decision. The Company has a strong and capable
management team that will assist in ensuring that the appropriate business focus
will be in place during the period when the process of seeking a successor takes
place.
Nick Dennis will continue to act as Chief Executive Officer of the Company until
his retirement.
Bryanston
Date: 7 December 2007
Sponsor
JP Morgan Equities Limited
Date: 07/12/2007 08:59:01 Produced by the JSE SENS Department.
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