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Long-time Hulamin CEO Richard Jacob to retire

After serving the company for 32 years.
Outgoing Hulamin CEO, Richard Jacob. Image: Supplied

Richard Jacob, CEO of JSE-listed exporter and aluminium supplier Hulamin, will formally retire from his role effective 30 September 2022.

“The board thanks Richard for his loyalty, commitment and leadership and wishes him well in his future endeavours,” the company noted in a Sens statement issued on Thursday.

Jacob, who joined the company in 1990, held various positions, including within manufacturing, sales, marketing and investor relations.

He was appointed to the executive committee in 2002 and subsequently as CEO in 2010.

Read: Hulamin back to profits, but still no dividends

While the board’s nomination committee commences the process to appoint a permanent CEO, Geoff Watson, independent non-executive board member, will be appointed as interim CEO effective from 1 October 2022.

The company says the handover process between Jacob and Watson has commenced.

According to Hulamin, Watson has broad industrial experience spanning across China, Asia, Russia, the United States, Africa and Australia. His core expertise lie in the aluminium processing industry.

Watson has held executive positions at Alcoa Kaal and Steelforce  (in Australia), Alcoa Bohai (in China) Seema International (Hong Kong), and UC Rusal (in Switzerland).

“The board has confidence that Geoff is well placed to manage Hulamin until a permanent CEO is appointed,” the company adds.

Read:
The IDC navigates tricky pandemic-disrupted investment environment [Oct 2021]
Loss-making Hulamin awards bosses R3.2m in share incentives [Sept 2020]

The aluminium semi-fabricator says Watson will resign as a member of the remuneration and nomination committee and as chair of the risk committee.

Boni Mehlomakulu, who served as an independent non-executive director of the risk committee will replace Watson as chair. Naran Maharajh will replace Watson as an independent non-executive director on the remuneration and nomination committee. Both changes will be effected immediately.

 Nondumiso Lehutso is a Moneyweb intern.

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