Phil Roux. Picture: SUPPLIED
Phil Roux. Picture: SUPPLIED

The share price of recruitment group Adcorp jumped 18% on Thursday as the company announced former Pioneer Foods head Phil Roux as its new CEO.

Roux, who previously served as executive director and business executive at Tiger Brands, will take over the reins from Cheryl-Jane Kujenga who stepped in as interim CEO in October 2019.

The company said Roux, who has more than 30 years of experience as a business executive, had led successful business transformation within organisations such as Coca Cola Sabco.

“There has been exponential improvement in value creation under his guidance and leadership. The board is confident that he will guide the Adcorp Group through its strategic and operational transformation,” the company said.

Adcorp said it is also in the process of redefining an approach to the office workplace landscape after the Covid-19 pandemic has passed.

“The board is confident that the business is fundamentally sound and will be able to meet its commitments and immediate strategic intent,” it said.

At 4.40pm, the company's share price was up 3.16% to R3.92.

mjoo@businesslive.co.za

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