Tongaat Hulett - Appointment of Chief Executive Officer
Tongaat Hulett is pleased to announce the appointment of Mr John Gavin Hudson as the Chief Executive Officer ("CEO") and an Executive Director of the Company with effect from 1 February 2019.
Mr Hudson (49 years old) is an accomplished business executive with considerable experience in diverse and challenging markets within the alcoholic beverages industry. He was previously the Beer Group President and Chief Executive Officer of Anadolu Efes, a company listed on the Turkish stock exchange. Prior to this, Mr Hudson served as the Managing Director of Anadolu Efes' beer businesses in Turkey and Russia and spent 26 years within SABMiller, holding senior roles both in South Africa and internationally.
The Board is confident that Mr Hudson, with the support of the executive team, will be successful in leading the strategic review and direction of Tongaat Hulett in order to restore shareholder returns to acceptable levels, improve cash generation and reduce debt levels.
The Board welcomes Mr Hudson to his new role and also thanks Mr Sydney Mtsambiwa for his contribution as interim CEO for the past three months.
This announcement is issued in accordance with paragraph 3.59 of the JSE Listings Requirements.
14 January 2019
Investec Bank Limited