|By PR Newswire||
|February 10, 2014 02:03 AM EST||
JOHANNESBURG, Feb. 9, 2014 /PRNewswire/ -- The board of directors ("the board") of Sappi Limited is pleased to have announced today that Steve Binnie, currently the Chief Financial Officer "CFO" of the company, will succeed Ralph Boettger as CEO on 01 July 2014.
Steve Binnie (46) joined Sappi on 09 July 2012 as CFO-designate and became CFO and joined the Sappi Limited Board on 01 September 2012. Prior to joining Sappi Steve had been the CFO of Edcon (Pty) Ltd since 2002. Prior to joining Edcon he was Group Financial Manager at Investec Bank Limited and held senior management positions at Transunion ITC and New Zealand Milk Products (SA). He is a Chartered Account and holds an MBA from Heriot-Watt University, Edinburgh, Scotland.
Dr Danie Cronje, Chairman of the board of Sappi Limited, said: "I would like to congratulate Steve on his appointment. The board believes that Steve has all the necessary skills and attributes to take Sappi forward and to deliver strong growth into the future.
"It is anticipated that a successor for the role of CFO will be announced before the end of June 2014."
NOTE TO EDITORS:
Additional information on Steve Binnie:
- He holds BComm and BAcc degrees from the University of the Witwatersrand (WITS) in Johannesburg is a chartered accountant, CA(SA)
- holds an MBA from Heriot-Watt University, Edinburgh, Scotland
- completed his articles at KPMG
- started his career as Regional Financial Manager of Tanker Services
- became Financial Manager of New Zealand Milk Products (SA) before moving to Transunion ITC as Financial Director
- spent time as Group Financial Manager of Investec Bank Limited
- was CFO at Edcon (Pty) Ltd from 2002 prior to joining Sappi
For further information
Andre F Oberholzer
Group Head Corporate Affairs
Tel +27 (0)11 407 8044
Mobile +27 (0)83 235 2973
Group Head Investor Relations and Sustainability
Tel +27 (0)11 407 8391
Mobile +27 (0)83 320 8624
PO Box 31560
Tel +27 (0)11 407 8111
SOURCE Sappi Limited