19th Mar 2019 11:26
LONDON (Alliance News) - Paper and packaging firm Mondi PLC said on Tuesday that Joint Chair Fred Phaswana will retire from his role, with effect in the second half of 2019.
Phaswana has been in his role for six years since 2013 and will remain in his role until the simplification of Mondi's corporate structure is completed.
In November, Mondi said it plans to simplify its existing group - comprising Mondi PLC and Mondi Ltd - into a single holding company under Mondi PLC.
Mondi will continue to have a premium listing on the London Stock Exchange and will have an inward secondary listing on the Johannesburg Stock Exchange.
In addition, Joint Chair David Williams will retire from his role in early 2020 after ten years in the role.
"We would like to thank Fred for his significant contribution to the Mondi Group. He has played an important role in Mondi's development since his appointment in 2013, providing invaluable insight and leadership to the Boards. He will leave with our very best wishes for the future," Williams said.
Shares in Mondi were up 0.6% at 1,764.5 pence in London, while its Johannesburg shares were up 1.0% at ZAR337.00 on Tuesday.
Related Shares:
Mondi