New CEO brings hope

Finweek English Edition - - Marketplace Simon Says -

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.

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