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CLOVER INDUSTRIES LIMITED - Changes to the executive committee

Release Date: 26/10/2018 16:00
Code(s): CLR     PDF:  
 
Wrap Text
Changes to the executive committee

Clover Industries Limited
(Incorporated in the Republic of South Africa)
(Registration number 2003/030429/06)
Ordinary Share code: CLR ISIN No: ZAE000152377
NSX Ordinary Share code: CLN
(“Clover” or “the Company”)

CHANGES TO THE EXECUTIVE COMMITTEE

Shareholders are informed that Mr Drikus Lubbe the Company’s
Executive: Supply Chain, has resigned with effect from 1
November 2018 to take up the position of Chief Executive Officer
of Dairy Farmers of South Africa (“DFSA”).

Mr Lubbe was one of 6 members on the executive committee of
Clover. As Executive: Supply Chain, Mr Lubbe was responsible for
manufacturing, supply chain planning, and distribution.

Mr Lubbe’s deep knowledge of both Clover's supply chain and the
DFSA’s business model makes him the ideal candidate to   make a
success and develop this important business partner and
stakeholder of Clover even further.

Mr Johann Vorster, CEO of Clover commented: “We are sorry to see
Drikus leave Clover however we wish him well in his new role and
thank him for his valuable contribution to the business. This
is a fantastic career opportunity for him and he is well-suited
to lead DFSA. Given the close relationship between Clover and
DFSA, we will continue to support him to make a success of this
transition.”

Mr Lubbe’s position will not be filled at this point in time.
Instead, Mr Marcelo Palmeiro, Executive: Corporate and Brand
Development will assume responsibility for Manufacturing and Mr
Jacques van Heerden, Executive Legal, Secretarial, and Human
Resources will assume responsibility for Supply Chain Planning
and   Distribution.  Until   this   position   is  filled,   or
restructured, some of their current responsibilities will be
rebalanced across other executive committee members to ensure
an equitable workload.


Johannesburg
26 October 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

NSX Sponsor
Mercantec Capital Namibia Proprietary Limited

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