https://www.engineeringnews.co.za

Imperial CEO takes extended medical leave until Jan

30th July 2018

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

JSE-listed Imperial Holdings CEO Osman Arbee has been placed on medical leave until January 2019, after he underwent surgery in June that subsequently led to a minor stroke.

Once Arbee has recovered, he will continue his role as Motus CEO.

The proposed unbundling of Motus – Imperial’s automotive business – to become a separately listed company, remains on track to be finalised in the fourth quarter of this year.

“After considering whether the long-term prospects of Imperial Logistics and Motus will be enhanced by them being separately listed, the board believes the separation of the two divisions will enable the components part of Imperial’s businesses to operate in a more focused and efficient manner, thereby allowing each of the businesses to achieve their respective strategic goals and unlocking value for shareholders over the long term.

“This strategic decision to separate the business operations and management of Imperial will provide shareholders with the opportunity to participate directly in Imperial Logistics and/or Motus,” the company previously stated.

In the meantime, Imperial CFO Mohammed Akoojee will act as interim Imperial Holdings CEO, until the conclusion of the unbundling of Motus. He will then be appointed CEO designate of Imperial Logistics.

Motus CFO Ockert Janse van Rensburg will be acting CEO of Motus until Arbee returns.

Marius Swanepoel will continue to serve as the CEO of Imperial Logistics and will undertake the role of the CEO of Imperial which will be renamed Imperial Logistics on conclusion of the unbundling. Swanepoel will retire as CEO in June

2019 and will remain as director to December 31, 2019.  

Akoojee will succeed Swanepoel as CEO with effect from July 1, 2019.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 
Stewarts & Lloyds
Stewarts & Lloyds

Stewarts & Lloyds today supplies steel and tube, pipe and fittings, valves, pumps, irrigation, fencing, profiling and roofing products. The cash...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.228 0.282s - 174pq - 2rq
Subscribe Now