EXECUTIVE MOVE
Bidcorp’s Joffe to bow out and list new firm
Brian Joffe tells the board he plans to launch a new listed JSE investment vehicle
Bidcorp executive chairman Brian Joffe will step down at the end of June 2017, taking up the role of nonexecutive director of the foodservice company unbundled from Bidvest Group in mid-2016. Bidcorp said Joffe had informed the board he would be launching a new listed JSE investment vehicle which would not be in competition with Bidcorp’s foodservice business. Bernard Berson would continue as group CEO. "Brian has agreed to continue, if necessary, in a nonexecutive chairman role after this date until the appropriate process for the appointment of an independent nonexecutive chairman has been completed," Bidcorp said in a statement on Monday. "As soon as the appointment of the new chairman is finalised, Brian will then assume the role of a nonexecutive director. Joffe is the founder and recently retired CEO of Bidvest Group, from which Bidcorp was split in May 2016. The former is now a separately listed JSE industrial company mainly with assets in SA. Speculation has been rife that J...
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