| Tue 17 Jan 2012, 11:24 | | SAP - Sappi Limited - Sappi announces Steve Binnie to succeed Mark Thompson as |
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SAP
SAVVI
SAP - Sappi Limited - Sappi announces Steve Binnie to succeed Mark Thompson as
Chief Financial Officer
17 January 2012
Sappi Limited
(Incorporated in the Republic of South Africa)
Registration number: 1936/008963/06
JSE share code: SAP
ISIN code: ZAE000006284
NYSE code: SPP
Sappi announces Steve Binnie to succeed Mark Thompson as Chief Financial Officer
Sappi Limited, the global pulp and paper group, today announced that Mark
Thompson, the current Chief Financial Officer, will retire from Sappi in August
2012 having reached the mandatory retirement age of 60. In order to ensure a
smooth transition in this important role, Sappi is pleased to announce that
Steve Binnie, currently the Chief Financial Officer of Edcon (Pty) Ltd, will
join Sappi as CFO-designate on 09 July 2012. He will become CFO and join the
Sappi Limited Board as an Executive Director on 01 September 2012.
Steve Binnie (44) has been CFO of Edcon since 2002. Prior to joining Edcon he
was Group Financial Manager at Investec Bank Limited and held senior management
positions at Transunion ITC and New Zealand Milk Products (SA). He is a
Chartered Account and holds an MBA from Heriot-Watt University, Edinburgh,
Scotland.
Commenting on the announcement, Sappi Chief Executive Officer, Ralph Boettger,
said: "I am pleased that we have dealt with the succession of Mark Thompson as
CFO in such a timeous manner. Mark has done a sterling job since his appointment
in 2006 as CFO and prior to that as Sappi`s Legal Counsel. I am confident that
in Steve Binnie we have found a capable and well experienced CFO who will ensure
a smooth succession and contribute substantially to the realisation of Sappi`s
growth and profitability strategy."
ENDS
NOTES TO EDITORS:
Additional information on Steve Binnie:
- He holds BComm and BAcc degrees from the University of the Witwatersrand
(WITS) in Johannesburg is a chartered accountant, CA(SA)
- holds an MBA from Heriot-Watt University, Edinburgh, Scotland
- completed his articles at KPMG
- started his career as Regional Financial Manager of Tanker Services
- became Financial Manager of New Zealand Milk Products (SA) before moving to
Transunion ITC as Financial Director
- spent time as Group Financial Manager of Investec Bank Limited
- joined Edcon (Pty) Ltd in 2002 as CFO.
For further information:
Andre F Oberholzer
Group Head Corporate Affairs
Sappi Limited (Reg No 1936/008963/06)
Tel +27 (0)11 407 8044
Mobile +27 (0)83 235 2973
Andre.Oberholzer@sappi.com
Date: 17/01/2012 11:24:41 Produced by the JSE SENS Department.
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