COMPANY COMMENT
GPI appointments ease shareholder worries
But what shareholders will relish is that Moodley is familiar with the fast-food industry
The boardroom of empowerment company Grand Parade Investments (GPI) is taking on a semblance of normalcy again. Earlier in 2017, GPI, which owns the master franchise agreements for fast-food brands Burger King and Dunkin’ Donuts, as well as several Western Cape-based gaming investments, was rocked by a series of key resignations. In April, Tasneem Karriem resigned as CEO, a position she had occupied for less than a year. A few weeks later chief financial officer Shaun Barends also exited the boardroom. This left GPI with just one executive in the boardroom — executive chairman and major shareholder Hassen Adams, who also doubled up as acting CEO.This week’s announcement that Prabashinee Moodley is to take up the CEO position from August should go some way to placate worried GPI shareholders. Her appointment follows the recent appointment of Colin Priem as chief financial officer. But what shareholders will relish is that Moodley is familiar with the fast-food industry, having held s...
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