Peter Staude to step down as CEO of Tongaat Hulett

Longtime Tongaat Hulett [JSE:TON] CEO Peter Staude will be retiring at the start of October, the company announced on Monday. 

Staude, who ran the agriculture and agri-processing company for 16 years, will continue to make himself available in an "advisory capacity after his retirement".

Tongaat Hulett said an interim CEO would be appointed while the group's board identifies his successor.

"He exemplified integrity and commitment, and he served the interests of our stakeholders with distinction," said the group's board in a statement. 

The sugar company's shares were trading at R83.02 at 16:20 on the JSE, up 0.5% on the day. 

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