LONG-SERVING BOSS RETIRES
Insider is new Mondi evolutionary leader
The retirement of longtime Mondi Group CEO David Hathorn and his replacement by Peter Oswald — an executive director and CEO of the firm’s Europe and international division since 2008 — signals the end of an era for the global packaging and paper group. Hathorn, who has led Mondi since 2000, will stand down as CEO and as a director of the dual-listed entities Mondi plc and Mondi Limited at the annual general meeting in May 2017. He will work with Oswald in the interim. Thereafter, Mondi says, Hathorn will continue to work in an executive capacity until his retirement in February 2018. "I do not view this announcement as a major positive or negative catalyst for Mondi or its shares," Justin Jordan, equity researcher at Jefferies International in London, said on Wednesday. "This is an evolution not a revolution. David has been phenomenal as leader of Mondi. Like any good actor, David is departing the stage with the audience still asking for more." Hathorn had led Mondi’s international...
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.