PIONEER FOOD GROUP LIMITED - Retirement of the group managing director

Retirement of the group managing director

Pioneer Food Group Limited
Incorporated in the Republic of South Africa
Registration number: 1996/017676/06
Share code: PFG
ISIN code: ZAE000118279
(“Pioneer Foods” or “the company” or “the group”)


RETIREMENT OF THE GROUP MANAGING DIRECTOR


Pioneer Foods today announced the retirement of André Hanekom (“André”) as
group managing director with effect from 31 March 2013.


KK Combi, Chairman of Pioneer Foods commented:


“André has served Pioneer Foods loyally for more than 24 years, the last 19 of which
as CEO. We are facilitating a change in chief executive officer at this time to position
the business appropriately for growth in years to come, as the economic
environment improves and our investments in growth capacity come on stream. We
thank André for his dedicated service.”


The nominations committee of the board will lead the search process for a group
managing director designate and consider both internal and external candidates as
required.


André will continue to act as group managing director to 31 March 2013 and be
available to the company to 31 March 2014 to ensure a smooth transition.


André Hanekom commented: “I’m grateful for what we’ve accomplished, establishing
Pioneer Foods and developing the business to participate in key growth markets.
The company is well positioned with talented divisional management to respond to
the opportunities and challenges ahead.”


No further comment will be made before the conclusion of the nominations process.


Paarl
16 October 2012
Sponsor
PSG Capital

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