South Africa's Astrapak appoints former Nampak executive Robin Moore as group CEO and Manley Diedloff as group managing director, effective Nov. 5

AFRICA , October 22, 2012 () – (Published: 20-Oct 2012, Received: 2:19:26 AM)

SOUTH AFRICAN COMPANY NEWS BITES

STOCK REPORT

Astrapak will appoint Manley Diedloff as Managing Director. The effective date is November 05, 2012.

Appointment:

Position

Director Name

Effective Date

PV$1000 [since appointment]

Chief Executive Officer

Robin Moore

05 Nov 2012

NA

Resignation:

Position

Director Name

Effective Date

Chief Executive Officer

Robin Moore

05 Nov 2012

Chief Executive Officer

Robin Moore

05 Nov 201


To open our Securities Dashboard on Astrapak, giving access to full details, trends, fundamentals and prices, please click here

Recent Trading

Astrapak (APK.J) MCap is US$918.9 million at the last price of ZAR6.80.

Original Announcement

Astrapak: Changes To The Board Of Directors - New Appointments

CHANGES TO THE BOARD OF DIRECTORS - NEW APPOINTMENTSGROUP CHIEF EXECUTIVE OFFICERThe board of directors of Astrapak ("the Board") is pleased to announce that, after a comprehensive search process, Robin Moore has been appointed as Group Chief Executive Officer with effect from 5 November 2012.Robin has extensive leadership experience in both rigid and flexible plastic packaging manufacturing. Since 1985, Robin has been employed by Nampak Limited ("Nampak") in various senior capacities. In Robin's early years at Nampak he was involved in the Liquid Packaging and Tufbag operations before transferring to the United Kingdom to manage BlowMocan - Nampak's original UK acquisition in 1995. Between 1995 and 2002, and more particularly following Nampak's acquisition of Plysu PLC, Robin managed the Liquid Plastics Division and established it as the leading producer of Plastic Milk Bottles in the UK. This culminated in Robin being appointed as Managing Director of Nampak Plastics Europe Limited until he elected to return to South Africa in 2004. Since then, in his role as Managing Director of the Nampak Flexible Cluster, he has been heavily involved in restructuring its various operations.Robin's significant flexible plastic manufacturing experience will be of great value to Astrapak in rectifying the underperformance in recent years from the Astrapak Flexible Division.Robin holds a Bachelor of Commerce degree from the University of Cape Town and is a member of the Institute of Packaging.GROUP MANAGING DIRECTORThe Board is, in addition, pleased to announce the appointment of Manley Diedloff as Group Managing Director reporting to the Group Chief Executive Officer, also effective 5 November 2012. Manley will assume day to day responsibility for various Astrapak operations under the guidance and leadership of Robin.Manley was previously the Group Chief Financial Officer and assumed the role of Acting Chief Executive Officer on 1 June 2012. The Board wishes to express its gratitude for Manley's service as Acting Chief Executive Officer and for the significant progress made on various strategic initiatives whilst it completed its search for a permanent Chief Executive Officer.ACTING CHIEF FINANCIAL OFFICERGene Lapan will continue to serve as acting Group Chief Financial Officer under the guidance of Manley Diedloff whilst the board completes its review of this position.The board is delighted with the appointments of Robin and Manley and wishes both of them the best of success in their new roles within the Astrapak Group.Source: ShareDataonline

Currency Conversion: South African Rand ZAR1= US$0.1155 [or US$1=ZAR8.66]; Against the US$ the ZAR dipped 8.65 basis points (or 0.1%) for the day; increased 0.9% for the week; slumped 5.0% for the month; fell 4.7% in the past year. ZAR1 = 100c.

Source: www.BuySellSignals.com
(c) 2012 News Bites All Rights Reserved

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.