Booth assumes CEO position at Italtile - CNBC Africa

Booth assumes CEO position at Italtile

Southern Africa

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Italtile is a South African porcelain and ceramic tiles retailer. PHOTO: Italtile

Booth, whose appointment was announced in July 2013, will take over from Giovanni Ravazzotti, who served as interim chief executive officer (CEO) pending Booth’s appointment.

Ravazzotti will resume his role as chairman of the group and Brand Pretorius, who served as interim chairman in Ravazzotti’s stead, will resume his position as independent non-executive director.

“The board would like to thank Ravazzotti and Pretorius for their contribution during this period, and welcome Nick Booth to the group,” [DATA ITE:Italtile] said.

(READ MORE: Italtile H1 basic EPS rises 19 per cent)

The South African porcelain and ceramic tiles, bathroom furniture and accessories retailer indicated that revenue from group-owned stores and entities had increased by 31 per cent to 1.37 billion rand in its first half results.

“The group's achieved gross margins remained relatively constant due to containment of sales-related costs, improvement in the sales mix, and despite cost pressures in the supply chain which were largely absorbed to support the price competitiveness of the retail operations,” the company had said.

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