(Alliance News) - Packaging firm Mondi PLC on Tuesday said joint Chair Fred Phaswana will officially step down from his role on August 31.
Phaswana, who also serves as joint chair of Mondi Ltd, announced his intention to retire in March and will receive a payment of GBP51,302 when he leaves the role.
The company said at the time that Phaswana would stay in the role until Mondi PLC and Mondi Ltd became one simplified holding company.
Mondi also said that it has appointed Enoch Godongwana as an independent non-executive director, effective at the start of September.
Godongwana currently has non-executive director roles at the South African National Housing Finance Corp, the state-owned Development Bank of South Africa, and the New Development Bank. He will join Mondi's nominations committee and the sustainable development committee.
The company's chairs said: "The Mondi Group is delighted that Enoch will be joining us. He brings significant experience to the board, having held a number of leadership roles, as well as invaluable knowledge of the South African business environment."
Shares in Mondi closed down 1.4% at 1,820.50 pence each in London on Tuesday.
Mondi (MNDI)