New CEO brings hope
Rolfes has announced the appointment of a new chief financial officer (CFO), André Broodryk. Stand-in CFO Richard Buttle was named CEO after Lizette Lynch resigned. Lynch has in part been made the fall person as she was CFO and chief operating officer of Rolfes before serving as CEO, while the previous CFO, Johan Ferreira, had only been permanent in the position for about a year before he left earlier this year. Buttle is ex-CEO of Metrofile* and turned that business around. So he is well-placed with a new team. But it will take time to regain investors’ trust.
*The writer owns shares in Woolworths, Metrofile and Famous Brands.