GLOBAL speciality paper, pulp and packaging group Sappi has announced that Graeme Wild (52) has been appointed as CEO of Sappi Southern Africa from December 1, succeeding Alex Thiel, who has been CEO of Sappi Southern Africa for 14 years.
Wild, who is currently the vice president sales and marketing at Sappi Southern Africa, will take over the reins from Thiel, who will now assume new strategic project duties until his retirement at the end of December next year.
Wild joins the top leadership team of Sappi, which has a market value of R28.6 billion, with its share price up 21.95% in the past five years.
In August, Sappi reported a whopping 80% increase in earnings to 9 US cents (R1.57) for the third quarter to June 30, compared with 5 US cents at the same time a year before. Ebitda was up sharply by 40% to $151 million from $106m. Profit for the period, within guidance, was up over 25% to $51m.
Steve Binnie, the CEO of Sappi, commenting on the contribution of Thiel, said: I would like to thank Alex for his significant service to date to Sappi during his 34 years with the company and for the support he has shown me as CEO. He is an outstanding leader both for the company and for the industry.
