Oceana Group, Africa’s biggest fishing company, has made Imraan Soomra’s appointment as CEO permanent, and named a new interim finance chief. Soomra was chief financial officer when he took on the job of interim CEO in February, upon the surprise resignation of Francois Kuttel, who is buying 75% of US group Westbank Fishing in a deal that has raised eyebrows. The group has appointed Trevor Giles as interim group finance chief. Giles is a chartered accountant who has been with the company for 19 years, Oceana said in its statement on Tuesday. Oceana was unable to secure the Westbank deal directly due to US law.

Oceana said earlier in 2018 that Makimry Patronus, a company majority owned by Kuttel, would proceed with a deal to acquire 75% of Westbank, a move that raised eyebrows and accusations of possible corruption. Oceana holds 25% of Westbank, which has a 30-year deal to supply Oceana’s Lousiana-based fish processing subsidiary, Daybrook. Oceana had a put option to acquire th...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.