Grindrod CEO taking early retirement in July

Transport and logistics group Grindrod has announced that CEO Alan Olivier would take early retirement in July after 10 years at the helm.
Grindrod CEO taking early retirement in July

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


 
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