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Grindrod CEO to retire

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Dry Bulk,

Grindrod Ltd, an investment holding company operating through three business divisions, namely Freight Services, Shipping and Financial Services, has announced that Alan Olivier, the Group’s Chief Executive Officer (CEO), will with effect from 31 July 2017 take early retirement to pursue personal interests.

He will remain available to the Shipping Division in a consulting capacity.

Mike Hankinson, Independent Non-Executive Chairman of Grindrod, commented: “On behalf of the Board I would like to thank Alan for his valued contribution to the Group over the past 31 years, the last 10 years as CEO. We wish him well and as Alan will be consulting to the Shipping Division, on an ad hoc basis, it is by no means goodbye.”

The three Grindrod divisions will continue to be managed by the skilled management team, Bongiwe Ntuli (Freight Services), Martyn Wade (Shipping) and David Polkinghorne (Financial Services).

Mike Hankinson has agreed to act as Executive Chairman in the transitional phase, with Andrew Waller, Group Financial Director, supporting him. The Board will begin the process of appointing a Group CEO and notify the market accordingly. Nkululeko Sowazi will be the Lead Independent Non-Executive Director of the Board.

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