Michael Hankinson will act as executive chairman in the transitional phase, supported by finance director Andrew Waller while the board embarks on a process to replace Olivier, who spent 31 years with the Durban-based group.
Grindrod operates three divisions, freight services, shipping and financial services.
The company suffered a net loss of R1.8bn in the year to December, up from a loss R1.3bn in the previous year. The share price was off marginally to R11.35 in mid-morning trade on the JSE, valuing the company at R8.7bn.
Source: BDpro
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
