Sasol’s De Ruyter set to take reins at Nampak next year
NAMPAK yesterday announced the appointment of Sasol executive André de Ruyter as executive director and CEO-designate, from January.
Mr de Ruyter, who is currently senior group executive of global chemicals and North American operations at Sasol, is to take over as CEO of the packaging group when Andrew Marshall steps down at the end of March.
Nampak’s share price rallied 5.4% to an intra-day high of R32.74 yesterday, before closing 2.22% higher at R31.75.
Avior Research industrial and consumer goods and services analyst Mark Hodgson said while the market may have anticipated an internal appointment, the market had reacted positively as Mr de Ruyter was seen as an experienced and credible appointment, and there was now more certainty.
The issue was now about “how quickly André can understand the packaging nuances”. A focus area would be on ensuring Nampak’s operations in SA became “more robust” given that margins and production volumes were under pressure, Mr Hodgson said yesterday.
Nampak’s expansion into the rest of Africa should also be maintained, and Mr de Ruyter would need to be close to various African markets.
“He will need to be hands-on and continue the process that’s already under way under Andrew Marshall,” Mr Hodgson said.
In the six months ended March, the packaging manufacturer reported a 39% rise in trading profit from Africa as margins on the continent, excluding SA, rose to 15.9%.
Including exports, the rest of Africa accounted for 28% of the group’s trading profit. This shot up from R142m in the same period last year to R197m.
Nampak’s overall revenue grew 7%, with SA gaining 4%, the rest of Africa 19%, and the UK increasing 13%.
Sasol said yesterday that Fleetwood Grobler, MD of the Sasol Olefins and Surfactants business, had been appointed group executive to succeed Mr de Ruyter with effect from December 1.
“Fleetwood has extensive operations, technical research and capital project management experience gained in his 29 years at Sasol,” the company said.