Sappi: Pearce named as chief financial officer

Glen Pearce, the chief financial officer of Sappi Europe, would become Sappi’s group chief financial officer and join the board as an executive director on July 1, the paper maker announced yesterday. He will replace Steve Binnie, who succeeds Ralph Boëttger as chief executive on that date. Chairman Danie Cronje said last month that a new chief financial officer would be appointed before the end of June. Boëttger said: “I am very pleased that our robust succession planning process has enabled us to appoint a strong internal candidate. Glen’s in-depth knowledge of Sappi and his sterling track record will serve the company well on its path towards strong growth and profitability.” The shares closed 0.59 percent up at R35.78 yesterday. – Staff reporter