South Africa-based Tiger Brands has signed a 26-month contract with Tiaart Kruger for him to take on the role of the company’s next CEO as of Nov.1. Kruger has over 30 years of leadership experience at a variety of South African consumer goods companies, most recently serving as the CEO of Premier Foods for 10 years. Earlier in his career, he was the managing director of Tiger Brands’ pharmaceuticals and grains divisions.
Kruger will be replacing current CEO Noel Doyle, who has held the position since 2020 and has been with Tiger Brands for the past two decades. His resignation follows the Tiger Brands board’s yearly review of the company’s strategy, which concluded that new leadership was required. The same day Doyle’s resignation was announced, the company's share price jumped by over 13%.
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“During his tenure as CEO, Noel and his team navigated the challenges of COVID-19, civil unrest, global supply changes, and high levels of inflation,” Tiger Brands said in a written statement. “In this period, the company’s underlying operating profit trajectory was stabilized, and there have been many significant improvements in key internal operating metrics.”
“The board believes that this appointment will provide certainty to the company, the market, and other key stakeholders and accelerate the execution of the company’s strategy and value creation for shareholders,” the company said in another statement. “The board will commence a process to identify a suitable successor for the CEO role in due course to ensure an orderly transition at the end of Tjaart’s tenure.”