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Resignation of CEO, appointment of interim CEO and changes to the board committees
NAMPAK LIMITED
Registration number 1968/008070/06
Incorporated in the Republic of South Africa
Share Code: NPK ISIN: ZAE000071676
Share Code: NPP1 ISIN: ZAE000004966
Share Code: NPKP ISIN: ZAE000004958
LEI: 3789003820EC27C76729
(“Nampak” or “the Company”)
RESIGNATION OF CEO, APPOINTMENT OF INTERIM CEO AND CHANGES TO BOARD
COMMITTEES
Shareholders are advised that Mr Erik Smuts has resigned from the
board of Nampak (“the Board”) and as Chief Executive Officer (“CEO”)
with effect from 20 April 2023.
Pursuant to a substantial restructuring process, including both the
imminent disposal of non-core assets and divestitures from
unprofitable operations, the size and nature of the CEO’s role has
changed materially, resulting in the current incumbent having opted
to step down. The Board would like to thank Mr Smuts for his loyal
service in excess of 25 years to Nampak and especially for leading
the Company through the COVID-19 pandemic and for laying a strong
foundation for delivery of the turnaround initiatives.
The Board is pleased to announce the appointment of Mr Phildon Roux
(currently an independent non-executive director, member of the
Nominations and Remuneration and Chairman of the Restructuring
Committees) as interim CEO with effect from 20 April 2023, until such
time as the Company makes a permanent appointment. Due to Mr Roux’s
new executive role, his membership on the Nominations and Remuneration
Committee will terminate with effect from 20 April 2023.
The Board welcomes Mr Roux to his new role as interim CEO and is
confident that he will leverage his extensive operational and
strategic experience in the FMCG sector, as well as his demonstrated
skills in organisational turnarounds, to achieve the objectives of
the Restructuring Plan (referred to in the voluntary trading update
released on SENS on 30 March 2023) and accumulate value for Nampak’s
shareholders whilst ensuring the Company’s long-term sustainability.
The Board has initiated a process to appoint a new CEO and fully
supports Mr Roux as interim CEO until such time as a permanent CEO
has been appointed.
Shareholders are advised that Mr Tjaart Kruger, an independent non-
executive director, has been appointed as a member of the Nominations
and Remuneration Committee with effect from 20 April 2023. The Board
looks forward to Mr Kruger’s continued contribution to Nampak in his
new role.
Bryanston
20 April 2023
Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank
Limited
Date: 20-04-2023 08:00:00
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