Famous Brands announces new reporting structure

Earlier this year it announced it was embarking on a programme aimed at sustaining the robust growth of the business over the next decade. One of the more significant interventions relating to this programme had been the implementation of a business transformation project‚ which had already started to deliver encouraging results‚ the company said.

Phase two of this project focused on the leadership structures of the business and in this regard‚ effective 1 January 2014‚ CEO Kevin Hedderwick's designation would change to that of group CEO. His primary responsibility would be group strategy with an overarching focus on future growth of the business and unlocking further value for stakeholders.

Chief operating officer Darren Hele will be appointed as CEO‚ assuming responsibility for the operational component of the business currently managed by Hedderwick.

Commencing on 1 January 2014 until the end of February 2014‚ Hedderwick would conduct a formal handover of his portfolio to Hele thereby aligning this change of responsibilities with the commencement of the group's F2015 fiscal year.

Both Hedderwick and Hele will formally assume their new roles effective 1 March 2014.