JOHANNESBURG - Packaging and paper company Mondi said on Tuesday it would appoint Mike Powell as group chief financial officer and as an executive director.
In a statement, the company said it would announce the effective date of Powell's appointment in due course. He will succeed Andrew King who was appointed Mondi group chief executive officer last month.
“We are delighted that Mike will be joining the Mondi team. He has significant financial and strategic experience having been chief financial officer and an executive director of a number of large international listed companies, most recently Ferguson plc," King said.
"We are confident that Mike’s clear operational focus, strong leadership experience and knowledge of operating in large industrial groups across a variety of geographies will be instrumental in driving forward Mondi’s strategy."
Powell has a bachelor of science degree in computer science and accounting from the University of Manchester and is an associate of the Chartered Institute of Management Accountants.
He started his career at Pilkington plc, spending 15 years in finance and operational roles before going on to become financial officer at Nippon Sheet Glass and then AZ Electronic Materials plc.
He was subsequently appointed group finance director at BBA Aviation plc before taking up his current role at Ferguson.
Powell, who was also a non-executive director of Low & Bonar plc from December 2016 to this month, will be appointed to Mondi’s executive committee with effect from his appointment to the company's board.
Mondi, which has its roots in South Africa, employs around 26,000 people with around 100 production sites across more than 30 countries, predominantly in the African country as well as Europe, Russia and North America.
On Monday the company said it was set to build new production lines in its plant in Gronau, Germany, to produce melt blown non-woven fabric and surgical face masks, as part of its efforts to mitigate the spread of Covid-19 and in response to increased demand by health authorities, businesses and consumers.