Succession for Truworths as Emanuel Cristaudo is appointed as the new CFO

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Truworths has a new CFO
Truworths has a new CFO

Fashion retailer, Truworths, has announced the appointment of Emanuel Cristaudo as the group Chief Financial Officer, effective 1 July. 

Cristaudo replaces David Pfaff, whose resignation in late 2020 raised concerns about the retailer's succession plan.

Pfaff has since joined TymeBank's holding company as CEO of its SA operations.

Cristaudo was appointed as an independent non-executive director of Truworths in January, a position he will relinquish on 30 June,  the group said in a note to shareholders on Monday.

Cristaudo has had extensive involvement at the executive and director level at Truworths, the primary operating subsidiary in its Africa segment. During these 16 years up to 2013, he had direct responsibility for the credit risk, credit operations and marketing functions, and information systems in Truworths.

After 2013 he was group CEO at Direct Axis, a division of First National Bank and a director on numerous partner boards. More recently, he was the head of JustMoney and the marketing executive at Intelligent Debt Management Group (IDM), a debt management and debt counselling firm.

Cristaudo has a bachelor degree in commerce and cross-industry experience predominantly in retail and credit.

"Mr Cristaudo's appointment brings leadership to an experienced, qualified and well-resourced financial reporting team, as well as a wealth of knowledge and experience in general management…to the company's board," said the group.

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