Italtile CEO Nick Booth has elected to take early retirement with effect from February 28, 2017, with current COO Jan Potgieter to take up the position of CEO on December 1.
Booth will step down from his executive duties as from December 1, to facilitate an effective handover, and will be available to support the management team until his retirement date.
The position of COO will not be filled in the foreseeable future, the company said.
"It has been a privilege to work for the group – previously as CEO of Ceramic Industries from 2001 to 2014, and subsequently as CEO of Italtile from 2014. In that time, both businesses have delivered pleasing performances in terms of creating value for shareholders and building depth of talent in the operations.
“In this regard, I am satisfied that the future of Italtile is in very competent hands. In terms of my retirement, I look forward to spending more time with my family and pursuing a number of recreational interests," Booth said.
CEO-designate Potgieter added that he has worked closely with Booth over the past three years and thanked him for his support and guidance during that period. “I wish him all the best for his retirement. In terms of the business, I look forward to the challenge of continuing to build on the group's strong, consistent growth record."