TASTE HOLDINGS LIMITED - Change to the board of directors

Change to the board of directors

TASTE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2000/002239/06)
JSE code: TAS
ISIN: ZAE000081162)
(“Taste” or "the company")

CHANGE TO THE BOARD OF DIRECTORS

In compliance with Section 3.59 of the Listing Requirements of
the JSE Limited, Taste is pleased to announce the appointment
of Mr. Jay Currie to the Taste Executive Team effective 2
September 2013.
Mr. Currie is currently a senior executive at Massmart
Holdings Limited and has held several senior leadership
positions on the Massmart Group Executive Committee during his
14 year tenure with the group. These include Group Commercial
Executive; Systems and Supply Chain Director of Game and Dion;
and more recently leading the establishment and building of
the multi-billion rand Cambridge Food business.       Massmart
Holdings Limited is a large, listed, multi-branded retailer
now majority owned by Wal-Mart Stores.

Mr. Currie will assume the newly-formed position of CEO of the
Taste Food Division which consists of:
-    the food franchise business with its over 500 franchise
     outlets underpinned by the well-known brands of Scooters
     Pizza, Maxi’s Restaurants, St. Elmo’s Woodfired Pizza and
     The Fish & chip Co. and,
-    the food manufacturing and distribution business that
     manufactures and distributes products to the above food
     outlets.

Currently the distribution and franchise businesses report
separately to the Taste CEO, Mr. Carlo Gonzaga. The merging
of these two divisions under Mr. Currie’s leadership will more
closely align the Taste Food Division with the successful
structure of the current Jewellery division, headed up by Mr.
Duncan Crosson, who oversees manufacturing, distribution and
franchising in that division.
Mr. Currie’s experience complements and is closely aligned to
the core strategies and business of the Taste Food division in
that:
-    his supply chain and manufacturing experience complements
     the Taste strategy of vertical integration to unlock
     value from its franchise operations;
-    his success in driving synergies across multiple retail
     brands is well-suited to the multi-branded food business;
-    his experience gained in leading the establishment and
     building of the multi-billion rand Cambridge Food
     business in the lower income market is aligned with the
     division’s growth aspirations in that market;

Mr. Currie has been a non-executive member of the main Board
of Taste since 2004. Consequently, his intimate knowledge of
the Taste business, combined with his experience gained at
Massmart/Walmart will add significant Executive capacity to
Taste.
Mr. Currie is 39, married, has four children and lives in
Johannesburg.   He will report directly to the current Group
CEO, Mr. Carlo Gonzaga, and will switch to an executive
director on the board of directors of Taste.
As a consequence of his move to an executive capacity, Mr.
Currie will resign as a member of the Audit and Risk and
Remuneration committees, with immediate effect. Mr. Sebastian
Patel, an independent non-executive director, has been elected
to the Audit Committee with immediate effect.



Johannesburg
10 July 2013

Sponsor:
Vunani Corporate Finance

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