Distribution and Warehousing Network (Dawn) saw its share price plunge more than 31% on the JSE on Wednesday. The fall came after it announced a series of executive appointments and departures on Friday. The maker of branded hardware, sanitaryware, kitchen, engineering and civil products says it continues to grapple with fallout from the global economic crisis and the continuing general economic downturn in SA. It has branches across SA and in selected countries in Africa, including Mauritius. New CEO Edwin Hewitt replaces Stephen Connelly on April 1. Connelly will now become executive deputy chairman of the group. Dawn announced on Friday that group chief financial officer and executive director David Austin had resigned with effect from the end of June 2017. "The board will immediately commence with the process of recruiting his replacement," Dawn said on Wednesday. Connelly, formerly CEO of JSE-listed industrial products supplier Hudaco Industries, had helped stabilise Dawn durin...

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