Peter Staude to step down as CEO of Tongaat Hulett

Peter Staude will be stepping down as the CEO of Tongaat Hulett.  (Tongaat Hulett website)
Peter Staude will be stepping down as the CEO of Tongaat Hulett. (Tongaat Hulett website)

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. 

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
ZAR/USD
16.46
(+0.21)
ZAR/GBP
21.33
(+0.24)
ZAR/EUR
19.48
(-0.22)
ZAR/AUD
11.61
(+0.34)
ZAR/JPY
0.16
(+0.28)
Gold
1907.17
(+0.24)
Silver
24.62
(+5.30)
Platinum
872.00
(+2.22)
Brent Crude
42.85
(-0.67)
Palladium
2405.00
(+3.19)
All Share
55271.75
(+0.20)
Top 40
50851.62
(+0.22)
Financial 15
9956.35
(-0.22)
Industrial 25
75567.07
(+1.08)
Resource 10
53788.16
(-0.63)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
32% - 19 votes
No, I did not.
42% - 25 votes
My landlord refused
25% - 15 votes
Vote