Sector News

CEO of South Africa's Pioneer Foods announces retirement

September 4, 2017
Food & Drink

The chief executive of South Africa’s Pioneer Food Group has announced his retirement and will be replaced by Tertius Carstens, who has been with the company for more than two decades, the company said on Friday.

Phil Roux, who has been CEO since 2013, informed the board that he intends to retire on Oct. 1, though he will remain as a strategic adviser until the end of November 2019, Pioneer said in a statement.

The company, a maize, cereal, bread and beverages producer, said that Carstens, who has been with the company since 1994, will take over from Roux in October.

Carstens has been a member of the senior executive leadership team at Pioneer for more than 15 years and currently leads its Essential Foods division, the group’s largest profit driver, the company said.

Shares in Pioneer were down 3.1 percent at 122.79 rand at 1046 GMT, against a flat JSE All-share index.

By TJ Strydom

Source: Reuters

comments closed

Related News

June 24, 2022

Carlsberg announces resignation of CFO Heine Dalsgaard

Food & Drink

Carlsberg has announced the departure of its chief financial officer (CFO), Heine Dalsgaard, after six years in the position. In a statement, Carlsberg said that Dalsgaard was resigning from the post to take up the role of CFO at a private equity-backed company in a different industry.

June 24, 2022

Kellogg to split into three companies, focus on snacks

Food & Drink

Kellogg will split into three independent companies to focus on the snack business, Reuters reported Tuesday. The snacking portfolio will comprise the main business, while the North America cereal unit and the plant-based business will be spun off. The company is also considering a sale of the plant-based business.

June 24, 2022

Mondelēz to buy energy bar company Clif Bar for $2.9bn

Food & Drink

The snacks giant says the acquisition will help build on its commitment to “lead the future of snacking” in key geographies worldwide. Once the transaction is completed, Mondelēz will continue to operate the Clif Bar business from its headquarters in Emeryville, California. The snack giant will also continue to manufacture Clif Bars’ products, which include Clif Bar, Luna and Clif Kid, at its facilities in Idaho and Indiana.