Lawrence MacDougall named new Tiger Brands CEO
Tiger Brands, South Africa’s largest food producer, has appointed Lawrence MacDougall (pictured), currently with Mondelez International, as its new CEO. MacDougall's start date is yet to be announced.
MacDougall's appointment follows the resignation of Peter Matlare from the CEO post, which is temporarily being filled by Noel Doyle as acting CEO until MacDougall takes over. MacDougall is currently regional president for eastern Europe, Middle East and Africa at Mondelez, which owns Cadbury chocolate.
Tiger Brands has a value of some R61 billion or $4 billion. The company's shares fell 14% last year, compared with an 11% gain for South African competitor, Pioneer Foods Group.