Imperial group to unbundle Motus into separate listed company
The remaining firm, to be renamed Imperial Logistics, will be headed by Marius Swanepoel until chief financial officer Mohammed Akoojee takes the role in 2019
Logistics group Imperial will proceed with the unbundling of its vehicle dealership division, Motus, into a separate JSE-listed company, it said on Thursday. Imperial’s divorce from Motus will see Osman Arbee, who replaced Mark Lamberti as Imperial CEO in May, return to his role as Motus CEO. The remaining company, to be renamed Imperial Logistics, will be headed by Marius Swanepoel until chief financial officer Mohammed Akoojee takes the role of CEO on July 1 2019. Akojee in turn will be replaced by George de Beer as chief financial officer of Imperial Logistics. Motus will retain its incumbent chief financial officer, Ockert Janse van Rensburg, following its listing. According to Imperial, Motus is Southern Africa’s largest vehicle group employing 18,600 people. It also owns vehicle dealerships in the UK and Australia. In a pre-close briefing in May, Arbee said Motus generated 68% of its revenue in SA. Imperial said in Thursday’s statement that its board "believes that the separat...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.