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GNDE - Grindrod Limited - Restructuring of Grindrod Execu

14/06/2006 16:13:08

GND GNDP
GND
Grindrod Limited - Restructuring of Grindrod Executive team
Grindrod Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1966/0009846/06)
(Share code: GND & GNDP, ISIN: ZAE000072328 & ZAE000071106)
("Grindrod" or "the Company")
PRESS RELEASE
Following the appointment of Alan Olivier as CEO designate to succeed Ivan Clark
on his retirement at the end of 2006, Mr Olivier announced a re-structuring of
the Grindrod executive team to fill the vacancy arising from his promotion and
to lead the business going forward.
Mr Olivier said that Laurence Stuart-Hill, who is a Grindrod Limited Executive
Director responsible for Landfreight Logistics will take over his responsibility
for Unicorn Shipping, the Grindrod Group"s tanker owning and operating division.
He went on to say that, Mr Stuart-Hill is no stranger to shipping and especially
Unicorn having worked for Unicorn for 5 years prior to his appointment as
Grindrod Financial Director in 1999.
It was further announced that Captain David Rennie, also a Grindrod Executive
Director, will in addition to his current responsibility for Ocean Africa
Container Lines, assume responsibility for Landfreight Logistics and Terminals.
Mr Olivier added that Captain Rennie had been with the Grindrod Group for 28
years and had a sound knowledge of shipping, ports and logistics. Captain
Rennie had been very successful in re-engineering the group"s seafreight
logistics business.
The remaining members of the current executive will continue in their existing
roles.
14 June 2006
Sponsor: Exchange Sponsors
Date: 14/06/2006 04:13:10 PM Produced by the JSE SENS Department


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