Floundering sugar producer Tongaat Hulett said on Monday the retirement date of its long-serving CEO had been moved forward — a welcome announcement in the eyes of analysts keen on a shake-up. CEO Peter Staude, who reached the retirement age of 65 in June, shortly after being the target of a scathing Investec Securities report, will retire at the end of October — earlier than previously stated. CEO since 2002, Staude said in June the transition process was expected to be completed only by April 2019. An interim CEO would be appointed while the board finalised a process to identify a permanent successor, Tongaat said on Monday. Tongaat said in a separate statement that CFO Murray Munro, who joined the group in 2003, would leave his post with immediate effect for health reasons, and senior finance executive Rob Aitken would replace him in an acting capacity. Munro would remain an employee and would return after an extended medical leave of absence. In late May, Investec Securities ana...
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