| Mon 29 Mar 2010, 14:16 | | PFG - Pioneer Food Group Limited - Restructuring of the board of directors of |
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PFG
PFG
PFG - Pioneer Food Group Limited - Restructuring of the board of directors of
the company
PIONEER FOOD GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1996/017676/06)
JSE share code: PFG
ISIN: ZAE000118279
("Pioneer" or "the Company")
RESTRUCTURING OF THE BOARD OF DIRECTORS OF THE COMPANY
In accordance with the Listings Requirements of the JSE Limited, shareholders
are advised that the Pioneer board has restructured as follows with immediate
effect:
Resignation of non-executive directors:
Boy Blanckenberg (Chairperson), Nols Louw (Vice-Chairperson), Albie Bester,
Kosie van Niekerk and Antonie Jacobs decided to step down.
The board accepted the resignations of the aforesaid directors. The directors
have made tremendous contributions to the success of the Company and we thank
them for their efforts over many years.
Boy Blanckenberg commented: "After serving on the Board for many years I
believe now is the opportune time to relinquish my position as chairman in
favour of KK. I believe the new Board is well positioned to lead Pioneer
Foods in the next phase of Pioneer`s development. I am proud of the
contribution we as outgoing members made to the company`s strong growth
footing."
Appointment of non-executive directors:
Zitulele KK Combi (black businessman and Executive Chairperson of Thembeka
Capital), Prof Mohammad Karaan (Dean of Agriculture at Stellenbosch
University and director of Kaap Agri) and Thys du Toit (businessman,
Chairperson of KWV and former MD of Coronation Fund Managers).Further board
appointments may be made in time.
The board has elected KK Combi as the Chairperson and Dr Iqbal Surve as Vice-
Chairperson.
The non-executive members of the new board are KK Combi, Dr Iqbal Surve,
Jannie Mouton, George Eksteen, Andile Sangqu, Nonhlanhla Mjoli-Mncube, Thys
du Toit and Mohammad Karaan and the executive members are Andre Hanekom, Leon
Cronje and Tertius Carstens.
Boy Blanckenberg and Nols Louw have been appointed as consultants to Pioneer
until the AGM in February 2011 to ensure a smooth transition.
The new board will continue to actively pursue negotiations with the
Competition Commission in order to find an amicable solution to the current
pending Competition Commission matters.
29 March 2010
Sponsor
PSG Capital (Pty) Limited
Date: 29/03/2010 14:16:01 Produced by the JSE SENS Department.
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