Binnie, who has been the group’s chief financial officer since 2012 will succeed Ralph Boetgger as CEO on the 1 July 2014.
“I would like to congratulate Steve on his appointment. The board believes that [he] has all the necessary skills and attributes to take Sappi forward and to deliver strong growth into the future,” said Danie Cronje, chairman of the board of [DATA SAP:SAPPI LTD.] in a statement.
Binnie was the CFO of retailing group Edcon from 2002 prior to joining Sappi. He is a qualified chartered accountant and holds an MBA from Heriot-Watt University, Scotland.
A new CFO for the Sappi group is set to be announced before the end of June 2014.