Could De Beers be the next Twitter?
Savious-Parker Kwinika
Marketing & Media trends
Industry trends
BizTrends Sponsors
Subscribe & Follow
Advertise your job vacancies
Trending
Jaguar’s rebrand: creative vision or branding blunder?
Karabo Ledwaba
ABC Q3 2024: A quiet quarter for newspapers
Danette Breitenbach
Tiger Brands and CEO 'reach agreement' on his decision to step down
Tiger Brands said on Friday that CEO Peter Matlare has reached agreement with the board regarding "his decision" to step down as CEO...
Matlare's tenure has been under strain for some time as the food producer's Nigerian venture Dangote Flour Mills, bought in 2012, has continued to cause pain to investors. The stock exchange announcement did not mention the reasons behind Mr Matlare's departure. The company's share price was up 4.3% at R309 about 15 minutes after the announcement.
Recently, Tiger Brands had written down even more of the value of the R1.5bn deal, with total impairment charges now equal to about two-thirds of the transaction's value.
Matlare had earlier taken "full responsibility" for the write-downs, saying that substantial new flour capacity had come on stream in Nigeria between 2010 and 2012, when the deal was negotiated.
The Tiger Brands board said Matlare would remain in his position until the end of December. The search for his successor was under way.
Source: BDpro
Source: I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
