NEWS

(02/10/2014 / sha)

+++ IMPORTANT +++
Sappi: New CEO appointed

The board of directors of Sappi Limited announced that Steve Binnie, currently the Chief Financial Officer (CFO) of the company, will succeed Ralph Boëttger as CEO on 01 July.

Prior to joining Sappi in 2012 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.

“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", Dr Danie Cronjé, Chairman of the board of Sappi Limited, said. “It is anticipated that a successor for the role of CFO will be announced before the end of June 2014.”