| Wed 29 Jan 2020, 8:55 | | TIGER BRANDS LIMITED - TBS : Retirement of current CEO, appointment of new CEO and withdrawal of proposed AGM resolution |
|
TBS : Retirement of current CEO, appointment of new CEO and withdrawal of proposed AGM resolution:
TIGER BRANDS LIMITED
("Tiger Brands" or "the Company")
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN: ZAE000071080
Retirement of current Chief Executive Officer, appointment of new
Chief Executive Officer and withdrawal of proposed annual general
meeting resolution
In compliance with paragraph 3.59 of the JSE Limited Listings
Requirements, the Board of Directors of Tiger Brands ("the
Board") today announced that the current Chief Executive Officer
("CEO"), Lawrence Mac Dougall has decided to retire from the
Company with effect from 31 January 2020 having reached the
company's mandatory retirement age of 63. Lawrence has been at
the helm of Tiger Brands since 2016 and will exit the Company on
31 March 2020 to ensure a smooth handover.
The Board is pleased to announce that the current Chief Financial
Officer ("CFO"), Noel Doyle, has been appointed to the CEO role,
with effect from 1 February 2020.
In view of the timing of his retirement, Lawrence will no longer
be available for re-election as a director as stated in the
proposed resolution number 2.3, set out in the notice of annual
general meeting of the Company, scheduled for 18 February 2020.
This resolution is effectively being withdrawn.
The Board Chairman, Dr Khotso Mokhele, on behalf of the Board,
stated: "We want to thank Lawrence for almost four years of
devoted service which involved many accomplishments and wish him
all the best in his upcoming retirement and future endeavours.
After a rigorous and extensive search process, the Board and I
are pleased to have appointed someone of Noel's calibre,
experience and ability to fill the CEO position"
A further update regarding the CFO position will be made in due
course.
29 January 2020
Bryanston
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
Date: 29-01-2020 08:55:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
