Nampak appoints interim CEO after Smuts resigns
Packaging company Nampak reports that board member and CEO Erik Smuts has resigned, with effect from April 20, and will be succeeded, on an interim basis, by current restructuring committees chairperson, independent nonexecutive director and member of the nominations and remuneration committee Phildon Roux.
Nampak notes that, following a substantial restructuring process, including both the imminent disposal of noncore assets and divestitures from unprofitable operations, the size and nature of the CEO’s role has changed materially, resulting in Smuts opting to step down.
Nampak’s board thanks Smuts for his “loyal service” in excess of 25 years, and especially for leading the company through the Covid-19 pandemic and for laying a strong foundation for delivery of the turnaround initiatives.
Roux, whose membership on the nominations and remuneration committee will terminate on April 20, will serve as interim CEO with effect on the same day and until such time as Nampak makes a permanent appointment.
Nampak notes that it is confident in Roux leveraging his extensive operational and strategic experience in the fast-moving consumer goods sector, as well as his demonstrated skills in organisational turnarounds, to achieve the objectives of Nampak’s restructuring plan and accumulate value for Nampak’s shareholders whilst ensuring the company’s long-term sustainability.
Further, Nampak has appointed independent nonexecutive director Tjaart Kruger as a member of the nominations and remuneration committee.
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