Sappi CEO Ralph Boettger
Sappi CFO Steve Binnie will succeed Ralph Boettger as CEO of pulp and paper producer Sappi later this year, the paper company said on Monday.
Boettger resigned after seven years as CEO and director of Sappi.
"Binnie joined Sappi in 2012 as CFO designate and became CFO and joined the Sappi board in September 2012," spokesperson Andre Oberholzer said.
Prior to joining Sappi Binnie was Edcon CFO since 2002.
"The board believes that Binnie has all the necessary skills and attributes to take Sappi forward and to deliver strong growth into the future," Sappi board chairperson Danie Cronje said.
"It is anticipated that a successor for the role of CFO would be announced before the end of June 2014."