Fourie set to leave Innscor Africa

Innscor Africa Limited chief executive Toni Fourie has resigned from the group and its subsidiary boards with effect from 21 August, 2016. Mr Fourie, a South African national who has been commuting from Johannesburg since his appointment in 2014, led the group through recent strategic changes and restructuring which saw the unbundling, disposal, acquisitions and integrations of the conglomerate. Of significance was the unbundling and separate listing of the group’s Quick Service Restaurants and the retail business.Mr Julian Schonken who was the director for the light manufacturing business segment has been appointed CEO with effect from September 1, 2016. He is expected to work with Mr Fourie through the structured transition and handover.

Mr Schonken has been with the group for several years, holding numerous financial and managerial roles within the business. He was previously the chief financial officer of the group.

“Eighteen months ago Schonken was transferred to the position of director light manufacturing business segment. This new role has provided Schonken the opportunity to develop his leadership skills and business acumen and to assimilate detailed knowledge of the light manufacturing business”, the group said.

Meanwhile, John Koumides also stepped down as director corporate finance following his appointment as the CEO of Axia Corporation Limited.

Mr Koumides had been with the group for over ten years as CEO and most recently as director corporate finance. John’s resignation was with effect from July 1, 2016.

“During his tenure as corporate finance director, Mr Koumides successfully managed the unbundling projects of Simbisa and Axia”, a statement from the group said.

According to the group, the strategy which commenced in 2014, to build a dominant, focused light manufacturer of FMCG and related products, will go forward. The two key thrusts will continue to be growth, both organic and acquisitive and business optimisation.

Mr Fourie was appointed to run the Innscor group amid controversy which generated a lot of questions in the market on whether the group had failed to find someone competent locally both within or outside the group to restructure the company. — Wires.