Tiger Brands switches up its executive committee
By Mark Allix - Jun 12th 2018, 09:15
Tiger Brands has made changes in the group’s executive committee following SA’s deadly outbreak of listeriosis in the first half of the year.
The outbreak, which has so far killed nearly 200 people, cost the food producer R365m in the period. This amounts to 15% of headline earnings per share in the six months to March.
The disease outbreak continues to cost Tiger Brands R50m a month, according to group chief financial officer Noel Doyle, who will now also be responsible for the company’s value-added meat products (Vamp) segment, where the group’s listeriosis woes began.
This comes after Grattan Kirk, chief growth officer of the consumer brands division, under which Vamp operates, resigned to pursue an opportunity in retail. He will be leaving Tiger Brands in late June.
Pending Kirk’s replacement, the remainder of the consumer brands portfolio — with the exception of Vamp — will report to Pieter Spies, who is chief growth officer of the group’s grains division.
Tiger Brands reported a 4% drop in revenue to R15.7bn on pricing competition and lower overall volumes of 1.6% in the six months to March.
Group CEO Lawrence MacDougall said in late May when reporting the interim results that "it’s not a performance that we are proud of".
Pricing had been fierce in the market, he said.
He said the effects of the listeriosis outbreak had been "very small" on other Tiger Brands brands and the company had "so far found no reason to believe it was not complying" with safety standards".
Tiger Brands said that Yokesh Maharaj would join the group from early July as chief growth officer for the exports and international division, as well as snacks, treats and beverages under the consumer brands division.
"Our strategic review identified Africa as a key part of our growth strategy and Yokesh will lead the development and execution of this strategy," Tiger Brands said.
Maharaj was previously Distell’s MD for Africa. Before joining Distell, he spent 17 years at South African Breweries as both executive director for sales and distribution and executive director for human capital.BusinessDay
Woolworths carves out market share in SA
27/11/2019 - 10:11
In Australia, David Jones's sales declined 2.1%, with the company saying a store refurbishment contributed to the decline.
Push and pull strategies work together to keep consumers coming back for more
26/11/2019 - 10:20
The retail sector is under increasing pressure as consumers have shrinking disposable income in a strained economy. Maintaining share of wallet is critical. Relying solely on a push route to market strategy from manufacturers into retailers is not enough to get consumers buying products. A pull strategy needs to coexist with the push to drive brand consumption. Integrating these strategies requires intelligent and insightful decision-making. This, in turn, requires data generated through smart technology which provides line of sight across the value chain from manufacturer to distribution, retailer to the consumer.
Tiger Brands still reeling from listeriosis aftershock
26/11/2019 - 09:41
Tiger Brands continued to feel the effects of the listeriosis outbreak in the year to the end of September after the food producer suffered an impairment charge in its value-added meat products (Vamp), following a slower-than-anticipated recovery in the division.
Today’s customers are loyal to speed and convenience, not brands
25/11/2019 - 11:15
Consumer expectations are rapidly shifting as technologies such as mobile, geolocation, social media and increasingly, Internet of Things devices and wearables, connect people to a world of easily accessible information and convenient services. With the ability to browse, compare and order with a few swipes and taps, consumers are becoming trained to value convenience and service above nearly anything else.
Gearing FMCG manufacturing for the red season spike and maximising profits all year round
25/11/2019 - 11:03
As we enter the festive season, demand for Fast-Moving Consumer Goods (FMCG) increases rapidly, often leaving manufacturers scrambling to fulfill orders from their distribution channel. If demand cannot be met, then loss of revenue is inevitable. However, over-production is not an ideal solution either, as it can leave manufacturers sitting with unsold stock that costs money to store.