|APPOINTMENT OF CEO OF THE TONGAAT-HULETT GROUP LIMITED AND RETIREMENT OF MR CML SAVAGE FROM EXECUTIVE DUTIES|
The Board of The Tongaat-Hulett Group Limited is pleased to announce that Mr Peter H Staude, currently Managing Director of Hulett Aluminium (Pty) Limited, has been appointed Chief Executive Officer of The Tongaat-Hulett Group Limited with effect from 10 May 2002, the date of the forthcoming Annual General Meeting. He succeeds Mr Cedric ML Savage, who will be retiring from executive duties on the same date.
Mr Staude has held various operational and managerial positions at Hulett Aluminium since 1978, including the position of Managing Director of Hulett Aluminium Rolled Products since 1990 and Managing Director of Hulett Aluminium since 1996. He has served as a director of the Group Board since 1996 and has been a member of the Executive Committee of the Board since 1997. As additional duties, he was appointed a Director of the Sugar Division in January 2000 and non-executive Chairman of the Starch & Glucose division in May 2000.
Mr Staude will also become Chairman of Hulett Aluminium from 10 May 2002. This will result in some management changes within that company and a further announcement will be made in due course.
Mr Savage has served the company for 24 years, of which 21 years were as an Executive Director of the Group Board. In the past two, years he has carried out the dual role of CEO and Chairman of the Board.
28 January 2002