Tiger Brands, SA’s largest food producer, has extended the tenure of CEO Tjaart Kruger for a further three years to the end of 2028.
“The decision is premised on Tjaart’s positive progress to date with the group’s long-term strategic turnaround plan, including the appointment of new executive MDs for the six operating divisions, implementation of a new operating model, as well as progress with regards to the group culture and staff engagement,” the company said in a statement on Monday.
The board said the decision would provide 2028 leadership certainty to Tiger Brands' multiple stakeholders and the necessary runway for the group's succession plans.
“The board is looking forward to Tjaart's continued dedication and expertise and we are confident that with the support of the rest of the executive team he will lead the company to greater success in building shareholder value,” it said.
The group has experienced a bullish turnaround over the past year, driven largely by its revamped route-to-market strategy and leadership changes.
Under Kruger’s stewardship, Tiger Brands has had a robust recovery, with its market capitalisation soaring by about R11.6bn as its share price rose nearly 40%, highlighting investor confidence in the brand’s rejuvenation efforts.
Kruger’s appointment as CEO in November 2023 — initially for a period of 26 months — marked a shift for the group. Known for his previous successes, including leading Premier Foods’ expansion, Kruger was brought in to steer Tiger Brands through a challenging period.
His leadership has been credited with stabilising the company’s underlying operating profit and providing stakeholders with direction and certainty.
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