6th Aug 2021 11:22
(Alliance News) - Mondi PLC on Friday said Enoch Godongwana has stepped down as non-executive director, following his appointment as South Africa's finance minister.
The Addlestone, England-based packaging and paper company said it will immediately start the process of seeking a successor to Godongwana.
South African President Cyril Ramaphosa late on Thursday reshuffled his Cabinet and reconfigured his national executive for the first time since the national and provincial elections in 2019, ending weeks of speculation. Among key ministerial changes, Tito Mboweni is stepping down at his request as financial minister, replaced by Godongwana, who is a former deputy public enterprises minister.
"On behalf of the Mondi board, I would like to congratulate Enoch on his new role and thank him for his contribution to our discussions and decisions since he joined the board in September 2019. We wish him all the best for the future," said Chair Philip Yea.
Mondi shares were trading 1.8% lower in London on Friday at 2,030.00 pence each, while in Johannesburg, the stock was down 0.5% at ZAR410.68 a share.
By Evelina Grecenko; [email protected]
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