Africa, Business, invesment, Invesments, news, Uncategorized, World Bank, World Bank Group

Africa News January 15, 2014 at 08:57AM

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VENTURES AFRICA – Ralph Boëttger, the CEO of JSE-listed paper and pulp giant, Sappi, will step down in June this year after he was recently diagnosed with an unamed “serious illness.”

Danie Cronjé, the chair of Sappi, said Boëttger, who had been CEO of Sappi for seven years, had led the company through a tough period in its history.

“Under Ralph’s leadership the group has been transformed,” Cronjé said.

Cronjé said a comprehensive company strategy and other plans were in place and that programmes to re-position the company had been effective and completed.

“The company (is) in a position for growth into the future,” Cronjé said.

A succession process to find Boëttger’s heir is in place. This will allow for an even hand over to anyone who will be appointed to the position of CEO.

Boëttger said he felt sorry for having to take this decision, but he was of the view that the company stood at the “cusp” of a period of strong performance and growth.

“However, I believe that spending my time with my family has become the priority. It is in the best interest of the company and of my family for me to step down,” Boëttger said.




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