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Imperial Logistics said on Wednesday its CEO Marius Swanepoel will depart earlier than previously anticipated.
The group said former Imperial Holdings CFO Mohammed Akoojee will take over on February 1. Swanepoel was supposed to retire in June, according to Imperial’s announcement in August 2018.
“Following a handover process that was concluded earlier than previously anticipated, [Swanepoel] will now retire as CEO of Imperial Logistics with effect from February 1 2019 and [Akoojee] will succeed as CEO from that date,” Imperial Logistics said in a statement.
The decision gives Akoojee, who, until now, has been the company’s CEO-designate, an early start to implement the company’s strategy, which entails the search for growth in SA, the rest of Africa, and internationally.
The company is pursuing growth in pharmaceuticals and consumer packaged goods in the rest of Africa, while it has set its sights on adding freight-management capability internationally.
“If we add freight management, we will be able to provide an end-to-end offering to our clients. At the moment, this is the value we are leaving on the table. We are looking to add this capability through acquisitions. We will look at smaller [freight] companies. The strategy is to buy niche players,” Akoojee told Business Day in November.
Imperial Logistics said Swanepoel, who has been with the company for 29 years, will remain an executive director of the board until June 30 and will remain in the company’s employ until December 31, responsible for special projects “and available for strategic counsel”.
Akoojee, a chartered accountant, joined the Imperial Group in 2009 and became CFO in March 2017. He previously served as CEO of the Imperial Logistics African Regions business and as executive director for mergers, acquisitions, strategy and investor relations.
Said Imperial, “In these roles, [Akoojee] has been instrumental in building the African regions and international logistics businesses.”