TONGAAT HULETT LIMITED - Confirmation of the Retirement Date of the Chief Executive Officer

Release Date: 06/08/2018 13:00
Code(s): TON
 
Wrap Text
Confirmation of the Retirement Date of the Chief Executive Officer

Tongaat Hulett Limited
Registration number 1892/000610/06
Share code: TON
ISIN ZAE000096541

CONFIRMATION OF THE RETIREMENT DATE OF THE CHIEF
EXECUTIVE OFFICER

Mr Peter Staude, who has reached the age of 65, will retire as Chief Executive Officer
(“CEO”) of the Company and Executive Director of the Board with effect from 31
October 2018.

An interim CEO will be appointed while the Board finalises its process to identify Mr
Staude’s permanent successor. The interim CEO will be announced shortly and further
updates on the succession process will be provided when appropriate.

Mr Staude has agreed to make himself available to the Board and the Company’s senior
executives in an advisory capacity after his retirement. This will enable Tongaat Hulett
to continue to leverage his experience and expertise.

The Chairman wishes to express the Board’s sincere appreciation to Mr Staude for his
forty years of loyal service to the Group, the last sixteen as CEO. Throughout his tenure
he exemplified integrity and commitment, and he served the interests of our
stakeholders with distinction. We value the substantial contribution he made and wish
him well with all his future endeavours.

This announcement is issued in accordance with paragraph 3.59 of the JSE Listings
Requirements.



Tongaat
6 August 2018

Sponsor
Investec Bank Limited

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