Philip Yea is appointed to take the helm at Mondi from May
The group said yesterday that Yea would join the group as non-executive director at the beginning of next month and he would assume the chairmanship role after the annual general meeting on May 7.
He takes the role at a time when the company recently simplified its corporate structure. Williams was appointed as chairperson in 2009, having joined the group in 2007.
Mondi recently appointed a new chief executive in Andrew King, who was the group’s chief financial officer (CFO) after Peter Oswald resigned in January. The group is in the process of recruiting a new CFO.
Stephen Harris, Mondi’s senior independent director, paid tribute to Williams on behalf of the board. “I would like to take the opportunity, on behalf of the Mondi board, to thank David for his immense contribution to Mondi since its listing in 2007,” Harris said.
Harris also welcomed Yea to his new role and the group’s chairperson.
“We are delighted that Philip will be joining us. He has extensive listed company experience, both as an executive and non-executive director, across a range of sectors."
Yea graduated with an MA in Modern Languages from Oxford University and is a fellow of the Chartered Institute of Management Accountants.
Mondi's shares closed 5.33percent higher at R264.50 on the JSE yesterday.