18th Feb 2020 08:09
(Alliance News) - Mondi PLC on Tuesday said it has promoted Chief Financial Officer Andrew King to chief executive officer, effective from April 1.
The London- and Johannesburg-listed paper and packaging firm said King is replacing Peter Oswald who will step down from the leadership role and leave the company at the end of March.
Oswald's resignation was announced by Monday back in January. He was appointed chief executive in February 2017 and assumed the role in May that year.
Newly-appointed King was previously vice president of Anglo American Corporate Finance. He joined Mondi as vice president of business development in 2002. He then served as chief financial officer of Mondi from June 2005 to May 2006. Following that, he was appointed group strategy & business development director before becoming CFO in 2008.
"I am delighted that someone of Andrew's calibre has agreed to succeed Peter. His 17 years of experience with Mondi in various strategy, business development and finance leadership roles will benefit the group enormously. I am confident he will bring significant insight and leadership to the role of CEO," said Chair David Williams.
Mondi shares were trading 0.5% lower in Johannesburg on Tuesday at ZAR32,225.00 each. In London, the stock was down 1.1% at 1,644.00 pence each.
By Ife Taiwo; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Mondi