CEO of consumer goods packaging firm Nampak, Erik Smuts, has resigned from the company and has stepped down from its board.
Smuts, who has been at the helm of the company for over three years, stepped down following material changes to the “size and nature of the CEO’s role”, Nampak said in a statement on Thursday.
Smuts has been with the company for 25 years, having taken over as CEO from André de Ruyter, who left the company at the end of 2019 for state-owned power utility Eskom.
Nampak said it has already initiated a process to appoint a new CEO.
In the interim, Nampak has appointed Phildon Roux as CEO, effective from 20 April. Roux, who has been a member of the company’s nominations and remuneration committees and chair of the restructuring committee, will cease being a member as of 20 April, the company said.
He will be replaced by Tjaart Kruger on the board, who is currently an independent non-executive director of the company.
“The board welcomes Mr Roux to his new role as interim CEO and is confident that he will leverage his extensive operational and strategic experience in the FMCG sector, as well as his demonstrated skills in organisational turnarounds, to achieve the objectives of the restructuring plan shareholders whilst ensuring the company’s long-term sustainability,” the company said.
Nampak’s share price dropped 1.06% during morning trade on Thursday, to R0.93.
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