Tongaat Hulett appoints interim CEO

7th September 2018 By: Simone Liedtke - Writer

Sydney Mtsambiwa has been appointed as the interim CEO of JSE-listed agriculture and agroprocessing group Tongaat Hulett, with effect from November 1, following the retirement of long-serving CEO Peter Staude.

Mtsambiwa will serve as the interim CEO until the board has finalised the appointment of Staude’s permanent successor and will carry the full responsibilities and authority of the CEO-position as well as participate in and report to the board.

Mtsambiwa currently oversees Tongaat Hulett’s sugar operations in Zimbabwe and has been the CEO of Hippo Valley Estates, in which Tongaat Hulett has a 50.3% holding, since June 1999.

Tongaat announced in August that Staude would retire on October 31. He worked for the company for 40 years and served as CEO for the past 16 years.