Schutte will consult to Astral in a strategic role from February 2025 for one year
08 August 2024 - 09:28
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.
Chris Schutte will retire from his position as CEO and executive director of poultry producer Astral Foods with effect from the company’s next AGM at the end of January 2025.
Astral said in a statement on Thursday that Schutte had requested retirement. In terms of Astral’s human resources policy, the retirement age of executive directors is 65, and Schutte’s mandatory retirement would occur in 2025.
The board considered and accepted this personal request, Astral said.
A formal replacement process has started and a further announcement will be made once this has been completed.
“Although we are saddened by Chris’ decision, we respect his request for retirement with the utmost understanding and sympathy for his personal and family circumstances,” said Theuns Eloff, non-executive chairman of Astral.
“Chris has been a poultry man for 41 years, steadfastly serving the SA poultry industry. Chris has been at the helm leading Astral for the past 16 years, at the same time achieving the recognition as one of the longest-serving CEOs of a listed JSE company.”
Eloff said Schutte had a special set of management and board skills, with a wealth of knowledge in the poultry industry and had agreed to consult to Astral, in a strategic role from February 2025 for a period of one year.
After the worst financial period in the group’s history for the year to end-September 2023, Astral is now in a solid and healthy financial position. This was due to a focused turnaround strategy it had implemented in the 2024 financial year, the group said.
It recently reported that for the six months to end-March headline earnings rose 441% due to higher sales volumes and improved sales from its poultry division.
In the consultant role, Schutte would focus on ensuring a smooth transition process with the incoming CEO, continue to facilitate key stakeholder engagement and provide strategic insight to the Astral executive team and the board.
“I have always involved my exco in our dealings with a myriad of stakeholders, and this well-established team is highly experienced and regarded as best-in-industry. I am confident that I am handing over to a competent team who are willing and able to take the group forward in the next phase of Astral’s growth journey,” said Schutte.
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.
Chris Schutte to retire as CEO of Astral
Schutte will consult to Astral in a strategic role from February 2025 for one year
Chris Schutte will retire from his position as CEO and executive director of poultry producer Astral Foods with effect from the company’s next AGM at the end of January 2025.
Astral said in a statement on Thursday that Schutte had requested retirement. In terms of Astral’s human resources policy, the retirement age of executive directors is 65, and Schutte’s mandatory retirement would occur in 2025.
The board considered and accepted this personal request, Astral said.
A formal replacement process has started and a further announcement will be made once this has been completed.
“Although we are saddened by Chris’ decision, we respect his request for retirement with the utmost understanding and sympathy for his personal and family circumstances,” said Theuns Eloff, non-executive chairman of Astral.
“Chris has been a poultry man for 41 years, steadfastly serving the SA poultry industry. Chris has been at the helm leading Astral for the past 16 years, at the same time achieving the recognition as one of the longest-serving CEOs of a listed JSE company.”
Eloff said Schutte had a special set of management and board skills, with a wealth of knowledge in the poultry industry and had agreed to consult to Astral, in a strategic role from February 2025 for a period of one year.
After the worst financial period in the group’s history for the year to end-September 2023, Astral is now in a solid and healthy financial position. This was due to a focused turnaround strategy it had implemented in the 2024 financial year, the group said.
It recently reported that for the six months to end-March headline earnings rose 441% due to higher sales volumes and improved sales from its poultry division.
In the consultant role, Schutte would focus on ensuring a smooth transition process with the incoming CEO, continue to facilitate key stakeholder engagement and provide strategic insight to the Astral executive team and the board.
“I have always involved my exco in our dealings with a myriad of stakeholders, and this well-established team is highly experienced and regarded as best-in-industry. I am confident that I am handing over to a competent team who are willing and able to take the group forward in the next phase of Astral’s growth journey,” said Schutte.
mackenziej@arena.africa
Astral to boost chicken production
Astral to trial canned chicken
Q&A: Show me where the chicken shortage is, Mr Minister
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.