Current CFO Frans Olivier will assume the CEO role in November
29 May 2025 - 09:08
by Jacqueline Mackenzie
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Gary Chaplin is to step down as CEO of industrial group KAP at the end of October after 28 years with the company.
Chaplin and would be succeeded by Frans Olivier from November 1, the group said. He has been CEO for the past 10 years.
During his tenure as CEO, the group had grown materially and successfully navigated some challenging events, including the collapse of its major shareholder, a collapse in the polymer cycle, Covid and most recently a major investment cycle, KAP said in a statement on Thursday.
“Gary and KAP management have created ... a strong platform for further growth and value creation going forward.” it said.
He will remain available to the board and his successor for some time after October to ensure an orderly transfer of knowledge.
Olivier has been with the group for 19 years and is the current CFO.
“Frans has a deep understanding of the group, its markets, strategy and operations and is ideally suited to execute the strategy of KAP, which, following the completion of a major investment cycle, is to extract value from our recent investments, return underperforming operations to satisfactory levels of performance and reduce debt,” KAP said.
The board will appoint a CFO to replace him in due course.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
KAP gets new CEO as Gary Chaplin steps down
Current CFO Frans Olivier will assume the CEO role in November
Gary Chaplin is to step down as CEO of industrial group KAP at the end of October after 28 years with the company.
Chaplin and would be succeeded by Frans Olivier from November 1, the group said. He has been CEO for the past 10 years.
During his tenure as CEO, the group had grown materially and successfully navigated some challenging events, including the collapse of its major shareholder, a collapse in the polymer cycle, Covid and most recently a major investment cycle, KAP said in a statement on Thursday.
“Gary and KAP management have created ... a strong platform for further growth and value creation going forward.” it said.
He will remain available to the board and his successor for some time after October to ensure an orderly transfer of knowledge.
Olivier has been with the group for 19 years and is the current CFO.
“Frans has a deep understanding of the group, its markets, strategy and operations and is ideally suited to execute the strategy of KAP, which, following the completion of a major investment cycle, is to extract value from our recent investments, return underperforming operations to satisfactory levels of performance and reduce debt,” KAP said.
The board will appoint a CFO to replace him in due course.
MackenzieJ@arena.africa
WATCH: Unpacking KAP’s half-year results
KAP’s operating costs rise as PG Bison’s MDF line ramps up
KAP shows why bigger can be better
KAP chair Patrick Quarmby to step down
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.
Most Read
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.