Changes to the board

RFG Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 2012/074392/06
JSE share code: RFG
ISIN: ZAE000191979
(“RFG” or “the group”)

CHANGES TO THE BOARD

In compliance with paragraph 3.59 of the JSE Limited Listings Requirements,
shareholders are advised of the following changes to the board:

Bruce Henderson will retire as chief executive officer (“CEO”) and as an
executive director of the group with effect from 30 September 2021.

Pieter Hanekom (56), currently the group’s deputy CEO, will be promoted to CEO
with effect from 1 October 2021. Pieter joined RFG in 2015 as managing director
of long life beverages. He was appointed as managing director of long life foods
in 2017 and was promoted to deputy CEO and appointed to the board as an
executive director in July 2020.

Bruce Henderson will continue to serve on the board in a non-executive capacity
from 1 October 2021.

Commenting on the leadership changes, chairperson Dr Yvonne Muthien said:
“Bruce has led the group with distinction over the past 22 years since the
formation of the ‘new’ Rhodes Food Group. He has overseen the expansion from
a single brand fruit business into a diversified, multi-brand food producer owning
a portfolio of market-leading brands and a world-class production base. During
this time the group has concluded multiple acquisitions and expanded into
several new product categories and geographic markets. Bruce led the listing on
the JSE in 2014 which was a pivotal point in the group’s history.

On behalf of the group’s stakeholders, we thank Bruce for his committed
leadership and the legacy that he has created at RFG.

Bruce has accepted our invitation to serve as a non-executive director which
allows the board to retain his extensive company and industry knowledge.

We congratulate Pieter on his well-deserved appointment as CEO. Pieter has
more than three decades of experience in the food industry and has been a
member of the RFG executive committee for the past six years. He has been
integrally involved in the development of the strategy and the expansion of the
long life foods business. It is pleasing to appoint an internal successor of Pieter’s
calibre and we wish him well as he prepares to take on his new role.”
The board also advises that chief financial officer Tiaan Schoombie has extended
his service contract with RFG until 2026 which will ensure continuity in the
executive leadership of RFG.

Background on Pieter Hanekom
A chartered accountant with over 30 years’ commercial experience, Pieter started
his career with Distillers Corporation before joining Pioneer Foods. During his 20
years at Pioneer he held various senior management positions, including
managing director of Ceres Fruit Juices and head of the Ceres Beverage
Company. He joined RFG in 2015 as managing director of long life beverages,
leading the group’s successful entry into the fruit juice market and subsequent
growth in this highly competitive category. He was appointed as managing
director of long life foods in 2017 and promoted to deputy CEO in July 2020.


Groot Drakenstein
31 May 2021

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

Date: 31-05-2021 07:05:00

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