ItaltileChief financial officer leaves on high

Italtile’s chief financial officer, Peter Swatton, had resigned and would leave the group in April next year, the company announced yesterday. Swatton will be retained as a non-executive director and said he would remain a “committed shareholder”. He joined the group 25 years ago and assumed his current position in 1992, when he was appointed to the board. He also served as chief executive for two years. Italtile chairman Gianni Ravazzotti said Swatton had made a significant contribution to the group’s success. Swatton said: “I am satisfied that I have accomplished what I set out to do… the recently concluded acquisition of a 20 percent strategic stake in Ceramic Industries will position the group for further growth.” The shares leapt 5.7 percent to close at R6.34. – Staff reporter