Rainbow Chicken Limited - Changes To The Board Of Directors
Rainbow Chicken Limited
(Registration number : 1966/004972/06)
ISIN : ZAE000019063
SHARE CODE : RBW
("Rainbow")
In compliance with rule 3.67 of the JSE Listings Requirements, the following
information is disclosed:
Mr Yannick Lakhnati has resigned as Chief Executive Officer from the board of
Rainbow. The effective date of his resignation is 31 January 2003.
Mr Miles Dally has been appointed to the board as the new Chief Executive
Officer with effect from 1 February 2003.
Further information :
Mr Yannick Lakhnati will be leaving Rainbow on 31 January 2003 after five years
as CEO.
When Mr Lakhnati joined Rainbow, the business was going through an extremely
difficult period and incurred significant losses. He personally brought high
energy levels and strong leadership to the group, and this, coupled with the
appropriate structural changes and strategies he implemented, resulted in a
substantial and profitable turnaround at Rainbow.
Having brought the business to one that now has a solid foundation, a good team
of people and is well positioned for the future, he has decided that the time is
now right for him to move on to new challenges.
The Board is pleased to announce that Mr Miles Dally has accepted the position
of CEO from 1 February 2003.
Mr Dally was previously the Group Managing Director of Robertsons Holdings, and
had responsibility for the group`s activities in South Africa, Africa and
Israel. He also was a member of the international board of the
Robertsons/Unilever Joint Venture. With 20 years of success in the consumer
goods industry, he brings a wealth of knowledge and experience to Rainbow.
The Board would like to take this opportunity to thank Mr Lakhnati for his
decisive personal contribution to the turnaround at Rainbow, and to welcome Mr
Dally in his new role.
Date: 09/12/2002 07:10:00 AM Produced by the JSE SENS Department
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