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DISTELL GROUP HOLDINGS LIMITED - Voluntary announcement - business update and executive team changes

Release Date: 20/02/2019 11:48
Code(s): DGH     PDF:  
Wrap Text
Voluntary announcement - business update and executive team changes

Distell Group Holdings Limited
Registration number: 2016/394974/06
JSE share code: DGH
ISIN: ZAE000248811
("Distell" or "the Company")

VOLUNTARY ANNOUNCEMENT - BUSINESS UPDATE AND EXECUTIVE TEAM
CHANGES

The Board of Directors of Distell wishes to inform
shareholders and potential investors that as a result of its
overall strategy to simplify its operating model, a number of
changes have been made to its executive team.

The realignment is aimed at strengthening execution across
Distell's entire value chain and aligning the business model
with the right capabilities required to grow and win in chosen
markets. Four key changes include:

1. Creation of a central Growth and Innovation function with
   more agile and responsive innovation capabilities,
   insights led strategy and a digitally-enabled growth
   mandate to create more relevant experiences for our
   consumers.

2. Decentralise regional brand and portfolio management to
   the Business Units to get closer to consumers and reduce
   duplication across the business.

3. Align and focus the International and Premium Wines
   businesses into a Ventures Business BU to deliver high
   value premium products in priority markets.

4. Establishment of a central Corporate Services function
   which will enable our digital transformation, build
   deeper analytics capabilities and expand professionalise
   services delivered by The HIVE (Distell's shared service
   centre).

- Donovan Hegland (formerly Director: Global Marketing)
  will lead the new Growth and Innovation organization.
- Kate Rycroft (formerly Director: Corporate Development)
  will lead the Ventures Business.
- Kershen Pillay will join the Executive Leadership Team as
  Director: Corporate Services.
- Andre Opperman will drive change initiatives going
  forward in a temporary role as Director of Strategic
  Change Initiatives, reporting to the CEO.
- Lizelle Malan remains in her role as Group company
  secretary, reporting to the CFO.
- Fraser Thornton (MD: International) and Kay Nash (CEO:
  Libertas Vineyards and Estates) will continue managing
  their current portfolios and report into Kate Rycroft.
- Marius Lambrechts (formerly Director: Innovation) will
  move into a more strategic role to be announced.

The remaining executive team remains in their roles.   These
changes take effect on April 1st 2019.

Commenting on the changes, Richard Rushton Group CEO of
Distell said that the top management appointments 'are
designed to accelerate sustainable and profitable growth. The
appointment of Kershen Pillay and Andre Opperman demonstrate
our commitment to diversity and transformation within Distell.
This is a positive step forward and we will continue to
accelerate the pace of transformation in our business.'

The Company will address this and other operating model
initiatives at its Interim Financial Results (up to December
2018) webcast on March 1st, 2019 at 12.00 CAT. Registration
details can be found at https://www.distell.co.za/investor-
centre/

The information provided in this announcement is not an
earnings forecast and has not been reviewed and reported on by
the Company's external auditors

Stellenbosch
20 February 2019

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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