Lawrence MacDougall

Tiger Brands appoints new CEO

Tiger Brands has appointed Lawrence MacDougall as its new CEO, the company said toay. He is currently head of Mondelez International’s EEMEA operations.

“We are delighted with the appointment of Lawrence Mac Dougall and are confident of his abilities to lead the organisation and to deliver on the strategic objectives of Tiger Brands,” said Andre Parker, Chairman of the Board.

“We have found an exceptional new CEO in Lawrence, who has sound commercial and strategic acumen, the demonstrated ability to lead extensive growth and business turnaround strategies and the leadership skills to develop strong integrated teams that deliver continuous sustainable performance.”

The Board adopted a rigorous five month process to interview and select the new CEO for the company.

MacDougall is currently the executive vice-president and regional president at Mondelez International for Eastern Europe, the Middle East and Africa. Mondelez International is a global snack company, which reported net revenues of about $30bn in 2015. Its brands include Oreo and Cadbury. He previously served as MD of Bromor Foods and Cadbury in South Africa.

“I am excited and energised about joining Tiger Brands. Tiger Brands is an iconic South African business with a strong heritage and great brands that resonate with consumers across many cultures and all income levels.  The strength of our brands offers us a distinct competitive advantage that can be leveraged to create value for all stakeholders. I am proud to be leading the Tiger Brands team on this journey as we strengthen our position in the market and contribute positively to the South African economy,” said MacDougall

Tiger Brands said Noel Doyle would continue to serve as acting CEO until MacDougall joined the organisation.

Former CEO Peter Matlare gave notice late last year amid fallout from the group’s failed multibillion-rand Nigerian investment.

MacDougall joins the company, the Johannesburg-based maker of All Gold tomato sauce and Black Cat peanut butter, at a time when South African food producers have to content with rising input costs of key staples such as white corn, which has more than doubled since the start of last year due to the worst drought in more than a century.

These increases have been exacerbated by a 26 percent plunge of the rand’s value against the dollar over the period, fuelling higher prices of imports in a country where more than one in four workseekers is unemployed.

In September last year, Tiger Brands said Matlare had reached agreement with the board over “his decision” to resign. In mid-December, it said it would divest its 65.7% majority stake in Tiger Branded Consumer Goods to Dangote Industries — previously called Dangote Flour Mills — for a nominal $1.

The group had bought a majority stake in Dangote Flour Mills for R1.6bn in 2012 from Nigerian tycoon Aliko Dangote, but has since written down R2.7bn in the subsidiary.

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