JOHANNESBURG, SOUTH AFRICA — Tiger Brands Ltd.’s newly appointed grains executive, Pieter Spies, will begin his new role in February. Spies has more than 25 years of experience in the agricultural industry. In the past he has worked for Coca-Cola, Diageo and Brandhouse. Spies most recently worked for the GWK Group as its chief executive officer for the past three years.
This appointment is one of the most recent in a series of executive changes for Tiger Brands.
In December 2016, Tiger board chairman, Andre Parker, said he would not be seeking reappointment and will be succeeded by Khotso Mokhele. Emma Mashilwane and Kevin Hedderwick also were appointed late last year as independent, non-executive directors of the company. Lastly, Tiger Brands named Mary-Jane Morifi as its new group corporate affairs executive on Dec. 1.
In its most recent earnings report, Tiger Brands Ltd.’s profit before tax for the year ended Sept. 30, 2016, increased 10% to R4.5 billion ($316 million) due to strong performances in groceries, beverages and home care. Grains experienced a marginal decrease because of significant declines in maize (corn).
Total earnings per share, including discontinued operations (TBCG), increased 90% to 2,034 cents, up from 1,068 cents a year ago. Group turnover from continuing operations increased 11% from R28.7 billion to R31.7 billion.