With its share price languishing way below its 2014 peak and in an industry struggling against the backdrop of falling sugar prices, Peter Staude's 16-year run as Tongaat Hulett's CEO is nearing its end. The group has announced he will retire in April. The announcement comes in a week in which an Investec Securities analyst called for the CEO's resignation after what he termed an "appalling" set of annual results. Headline earnings fell more than 37%, with the group's operating cash flow declining by over 28%. Staude, who has been with the Durban-based company for four decades, reaches his retirement age of 65 this month. He said the primary objective in the succession process was ensuring a smooth transition during the selection and appointment of his successor. Over the course of his tenure, a period marked by increased sales of sugar lands north of Durban, the 126-year old company's shares almost doubled. Since Tongaat's September 2014 peak, however, the stock has shed 54.4% in v...

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