JOHANNESBURG - JSE-listed Mondi plc announced on Friday that its chief executive, Peter Oswald, will step down from his position of the international packaging and paper group - a move that came as a surprise to industry analysts.
Oswald said it had been an honour to have worked for Mondi and he was extremely proud of what they had achieved together. “While I am sad to be leaving, I know the group is in the hands of a strong board and an experienced senior management team that will ensure its continued success,” Oswald said. Oswald had been appointed chief executive in May 2017, but he has been with the group for more than 27 years.
Mondi said that its nominations committee would now begin the process of searching for a successor.
“We are pleased to confirm that Andrew King, group chief financial officer, has agreed to take on the role of interim chief executive after Peter steps down and until a successor is appointed,” the group said.
In paying tribute to Oswald, Mondi’s chairperson, David Williams, said he had made an immense contribution to the growth and development of Mondi since joining in 1992, most notably during his tenure as chief executive of the former Europe and International division and subsequently as chief executive.