Sector News

Mondelez chief replaces Matlare as Tiger Brands CEO

March 10, 2016
Food & Drink

Tiger Brands has appointed Mondelez International regional president Lawrence MacDougall as its new CEO. His starting date will be known only by the end of the month.

The foods group said on Wednesday Noel Doyle would continue to serve as acting CEO until Mr MacDougall joined the organisation. Mr Doyle has been acting CEO since the departure of Peter Matlare at the beginning of the year.

Tiger Brands said it had undertaken a “rigorous” five-month process to interview and select the new executive head of the company. Mr MacDougall has extensive fast-moving consumer goods experience in confectionery, beverages, snacks, groceries and biscuits.

Chairman Andre Parker said they were delighted with Mr MacDougall’s appointment and are “confident of his abilities to lead the organisation and to deliver on the strategic objectives of Tiger Brands”.

He said Mr MacDougall had “sound commercial and strategic acumen, the demonstrated ability to lead extensive growth and business turnaround strategies, and the leadership skills to develop strong, integrated teams that deliver continuous sustainable performance”. Mr MacDougall had worked for multinational organisations in Africa, the Middle East, Eastern Europe and Russia, and was previously MD of Bromor Foods and Cadbury in SA.

Mondelez is the world’s largest snack and second-largest food company.

Mr MacDougall said on Wednesday he was “excited and energised” at joining Tiger Brands, an “iconic South African business with a strong heritage and great brands that resonate with consumers across many cultures and all income levels”.

Mr Matlare gave notice late last year amid fallout from the group’s failed multibillion-rand Nigerian flour, rice and pasta investment. In September last year, Tiger Brands said Mr Matlare had reached agreement with the board over “his decision” to resign.

In mid-December, it said it would divest its 65.7% majority stake in Tiger Branded Consumer Goods to Dangote Industries, previously called Dangote Flour Mills, for a nominal $1.

The group had bought a majority stake in Dangote Flour Mills for R1.6bn in 2012, but has since written down R2.7bn in the subsidiary. It is selling it back, pending regulatory approvals.

By Mark Allix

Source: BDLive

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