Diversified chemicals and explosive supplier AECI has named Holger Riemensperger as its new group CEO and executive director, replacing Mark Dytor, who has retired after nearly a decade at the helm.
Riemensperger was until recently the COO at chemical group K+S, headquartered in Germany, and has held many executive and senior management positions in companies in Germany, the US, Switzerland, Netherlands, Sweden and Malaysia.
AECI said in a statement on Thursday he has “extensive” expertise in the mining, chemicals, agricultural and manufacturing sectors.
“We are confident that his global experience and distinguished track record as an executive across multiple prominent companies will position him well in executing our growth strategy and creating value for all stakeholders,” chair Khotso Mokhele said on Thursday.
To ensure a smooth transition, AECI appointed independent non-executive director Sam Coetzer as interim CEO from February 2023 until April when he will make way for Riemensperger.
Meanwhile, Dytor’s long journey with AECI date back to 1984 when he became water treatment salesman before rising through the ranks to become CEO in 2013. He steered the company through trying times, including the downturn in the commodity markets in 2015 and Covid-19, which in its early stages brought much uncertainty about the global economic outlook.
Like others in the market, the share price dipped, falling to R75 in May 2020 at the height of the pandemic before recovering to current levels of R88.97.
AECI was listed on the JSE in 1966 and its business spans six continents, though it generates about 60% of its revenue in Southern Africa.
Its mining business provides a mine-to-mineral solution to the international mining sector, including commercial explosives. It is thus sensitive to demand dynamics in the commodity markets. But it is also a critical player in the manufacturing space through its chemical business.
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