the g spot
Mondi: Boxing clever
The FM asked CFO Andrew King what he would say to nervous investors who fear that he’s just the ‘financial guy’
Shares in paper and packaging group Mondi have retreated to levels last seen three years ago, notwithstanding the theory that buying the company would be a great rand hedge, as 90% of its business is earned outside SA. And after years of management stability, its CEO of less than years quit recently, opening the way for CFO Andrew King to take the helm. The FM asked him what he would say to nervous investors who fear that he’s just the "financial guy".
AK: I was involved with David Hathorn, who was my predecessor but one, from about 1998, developing Mondi in its current form … Much of what Mondi is today, I’ve been involved in, either by buying or developing over the years, so I have an intimate knowledge of the business which I think extends well beyond the financial side. Nonetheless, I fully agree that you also need to look at the operating side of the business — fortunately I’ve a very strong team around me, so I’ve got every confidence that as a group we’ll go forward and...