Louis Von Juner, board chairman of the troubled JSE-listed sugar and property group Tongat Hulet, has resigned from the chair with immediate effect, the firm confirmed on Thursday.
The team cited personal reasons for Von Juner’s departure, but said he would remain on the board as a non-executive director until June 30, 2022, as part of the transfer process.
Von Juner was appointed to the Tongat Hulet board in December 2018 as part of a new leadership team, following an accounting scandal that rocked the group.
Tongaat Hulett said in a Sens statement that Von Juner had informed the board that he would not be available for re-election at this year’s Annual General Meeting (AGM) due to changes in personal circumstances.
“Mr Von Juner has resigned as chairman, but will remain on board until June 30, 2022 to assist in a smooth transition and transfer. [He] Will resign as an independent non-executive director of the company effective June 30, 2022, ”Tongat Hulett noted.
“On behalf of Tongaat Hulett’s board and executive team, we would like to sincerely thank Mr. Von Juner for his exceptional leadership, guidance and support during the difficult times that THL faced when he took over as Chairman. We wish him every success in his future endeavors, “said Gavin Hudson, CEO of the group.
David Noko has appointed the interim chair
Tongaat Hulett said David Noko, who has been serving as chief non-executive director of the board since July 1, 2020, will take over as interim chair.
“The board has begun the process of identifying a suitable replacement and shareholders will be advised as soon as an appointment is made,” it added.
According to the sugar producer, Noko Anglogold was the executive vice president of Ashanti and served as CEO of Air Chef and managing director and CEO of De Beers Consolidated Mines Limited. He is a chartered director, a member of the Institute of Directors and chairman of the University of the Free State Council. He is also the Chief Advisor to his consulting company ESG Advisory Limited.
Noco holds a Higher National Diploma in Mechanical Engineering, qualification in Management Development Program and Masters (MBA) in Business Administration.