Tiger Brands’ shares surge as new CEO is announced

Dieketseng Maleke dieketseng.maleke@inl.co.za

TIGER Brands’ share price surged as high as 19% on Friday following the food-producing company announcing that its CEO Noel Doyle will step down and be replaced by Tjaart Kruger. Doyle will remain available to Tiger Brands until March 31, 2024, to facilitate a proper handover. The shares hit a high of R176.39 on Friday, closing the day 1.19% up at R164.70. In a statement, the group said following the board’s annual review of the company’s strategy, it had concluded that new leadership was required to respond to the challenges currently facing the company. “The board and Noel Doyle have jointly agreed that Noel will step down as chief executive officer of the company and accordingly as executive director and member of the social, ethics, and transformation committee,” it said.…

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Cape Times (Digital) - 1 Issue, 2023-10-23

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