INSIDE VIEW
HILARY JOFFE: De Ruyter can find his voice as he bids Nampak farewell
How and why he was appointed won't matter once he gets to work
Nampak's annual financial results this week are set to attract more than the usual interest. The packaging group's results, the last to be presented by outgoing CEO Andre de Ruyter, come just a day before Eskom releases its interim results on Thursday - the last before De Ruyter takes office as Eskom CEO in January. His last Nampak outing will be important for at least two reasons. It gives him a chance to show if he's the kind of CEO we want at a power utility that is as troubled, and as critical to SA's fortunes, as Eskom.
Nampak's share price, now R7.37, is barely a fifth of what it was when De Ruyter took over in April 2014. The company has been plagued by troubles in its African operations and weak demand and fierce competition in its home market. De Ruyter inherited many of the problems, but it's not clear whether he failed to effect a turnaround — or succeeded in making the best of a bad legacy...
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