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Author: Moneyweb|

22 February 2013 11:20

Pioneer Food appoints new CEO

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Share price soars; Hanekom to remain as a consultant until next year.

JOHANNESBURG - Pioneer Food Group announced on Friday that it has appointed Phil Roux as chief executive officer, with effect from May 1 2013, or earlier as may be agreed.

André Hanekom announced in October last year that he would retire, after more than 25 years of service, the last 19 of which were as CEO.

Pioneer Food's share price has been on an upward trend since October - reaching an all-time high of R73.50 on Friday, and was up 2.50% at R73.29 by 14.11.

Roux (48) is currently Business Executive Consumer Brands at Tiger Brands and a Non Executive Director of Oceana Group and has 24 years of FMCG experience under his belt. He has previously served as Chief Operating Officer of Coca Cola Sabco and as Executive Director of Tiger Brands.

Roux said of his appointment: “Pioneer Foods’ solid balance sheet and good cash flows provides an underpin for the Group’s portfolio of enviable brands which hold significant equity, household penetration and loyalty.”

Hanekom will continue as chief executive until Roux takes up his position and will remain available to the company on a consultancy basis until March 31 2014.

Paying tribute to André’s leadership, Chairman KK Combi said said: “André has served Pioneer Foods loyally.... He has been the visionary architect of Pioneer Foods’ growth and development from consolidating the businesses of Sasko and Bokomo to entering new strategic food categories along the way. We are a vibrant and diversified business today with a number of market leading brands ....”

Topics: Pioneer Foods, Phil Roux, CEO




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