Charl will take over from retiring CEO Andries van Rensburg to continue implementing the group’s strategy.
Libstar has announced that its CFO, Charl de Villiers, will be taking over as CEO of the company in January 2023, following the retirement of Andries van Rensburg in December 2022.
“I am fully committed to further accelerating the implementation of the group’s strategy to ensure future success and unlock shareholder value,” Charl said.
He has been instrumental in developing the group’s strategy, working closely with Andries and the rest of the executive management team since joining Libstar as a senior finance executive in 2017. The strategy aims to reposition the group’s portfolio towards a higher-growth and value-added food portfolio, as well as the growth of categories and channels through a combination of organic expansion and acquisition.
Libstar chairperson Wendy Luhabe explained that it had been a rigorous process to consider numerous external and internal candidates for the position. “The board believes Charl to be the best candidate, owing to his in-depth understanding of the business and its strategy.”
Charl was appointed to the role of CFO at Libstar in 2020. Before joining the consumer packaged goods group, he served as CFO and corporate finance executive respectively at Stellar Capital Partners. Prior to this, he was a manager of the financial institutions services team at Deloitte, where he had completed his articles in 2011.