Adcorp announced the appointment of Phil Roux as the Chief Executive Officer and a member of the board with immediate effect, replacing Cheryl-Jane Kujenga, who has been filling the role in an interim capacity since October 2019. Phil is an experienced business executive of more than 30 years, mostly in the FMCG sector. His current role is Chairman of the TiAuto Group and he will resign from this role with immediate effect.

Prior to that, he was CEO of Pioneer Foods, Executive Director and Business Executive at Tiger Brands and Chief Operating Officer - Africa at Coca Cola Sabco. The Board would also like to express its gratitude to the outgoing interim CFO Talib Sadik, who was appointed on a contract basis. Talib will leave the organisation on 30 April 2020.

The Board would like to wish him well in his future endeavors.