29th May 2014 09:58
LONDON (Alliance News) - African agricultural group Agriterra Ltd Thursday said it had promoted Chief Financial Officer Daniel Cassiano-Silva to financial director with a seat on its board and appointed a new head of operations in Mozambique, moves it hopes will support its continuing expansion and growth.
In a statement, it said it had appointed Daniel Cassiano-Silva as financial director with immediate effect, and had made Gert Naude chief operating officer, Mozambique, replacing Euan Kay who is retiring from day-to-day management.
The company currently has operations in Mozambique and Sierra Leone.
"This is a period of significant growth for Agriterra. I am delighted to welcome Dan to the board; his extensive financial background, combined with his experience in Africa, and in particular in Mozambique, will be of significant value as we look to maximise our operating margins and create sustainable long-term cash generation and profitability," Chief Executive Andrew Groves said in a statement.
Cassiano-Silva was a financial executive at Paragon Resources PLC between 2010 and September 2013. He joined Agriterra last September as CFO and remains on the board of Paragon as a non-executive director.
Naude, meanwhile, is joining Agriterra from Tongaat Hulett, an agricultural and agri-processing business, where he led the Mozambican operations as agricultural manager. He had previously been at a sugar cane producer based in Mozambique.
Kay will remain as a consultant to Agriterra, and remain a non-executive director on its board.
Agriterra shares last traded at 1.415 pence.
By Steve McGrath; [email protected]; @SteveMcGrath1
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