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Khotso Mokhele to step up as Tiger Brands chairman

Tiger Brands on Wednesday said Khotso Mokhele would succeed Andre Parker as chairman of the company.

The consumer goods company said in a statement that Parker, who joined the board in August 2007 and has been chairman since 2012, had indicated that he would not be seeking reappointment to the board at the company’s AGM on February 21.

The company thanked Parker for his “valued leadership” and said it looked forward to working with Mokhele, who has been a director of Tiger Brands since 2007, in his new role.

In a separate statement, the company reported “a solid underlying performance in a challenging environment” for the year to the end of September.

The company said strong domestic volume growth had driven turnover from continuing operations up by 11 percent to R31,7 billion.

Headline earnings per share on continuing operations was up by 2 percent at 2,130 cents.

However, total headline earnings per share – which had been boosted by the disposal of Tiger Branded Consumer Goods, formerly Dangote Flour Mills – came in at 2,127 cents, a 19 percent increase on the year before.

A final dividend of 702 cents per share was declared, making for a total dividend for the year of 1,065 cents per share, a 12 percent improvement.

– African News Agency (ANA)

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