Tiger Brands’ Peter Matlare resigned as Chief Executive of the biggest manufacturer of branded food products in sub-Saharan Africa.
South African packaged goods company, Tiger Brands, said Matlare would remain in his position until 31 December 2015.
“I have given this careful consideration and believe that this is the right time for new leadership at Tiger Brands,” he said in a statement.
Responding to Matlare’s resignation, [DATA TBS:Tiger Brands Limited] said Matlare had given dedicated leadership to the group for nearly a decade.
“The Board recognises and appreciates the contribution made by Mr Matlare as Chief Executive Officer over the past seven years and we are grateful to him for his focused leadership in steering the company to date” said, André Parker, Chairman of the Tiger Brands Board.
Keith McLachlan from Alpha Wealth said, during his tenure, Matlare dealt with a number of challenges that included tje failed African expansion programme.
“Domestically, he had to deal with a lot of inflationary pressures, high consumer indebtedness and increased competition,” McLachlan said.
“Increased domestic competition also pushed the group to do foreign acquisitions which were not spectacular acquisitions especially in Nigeria.”