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SA's biggest food producer Tiger Brands said on Friday CEO Noel Doyle would step down at the beginning of November after concluding new leadership was required in the face of challenges facing the company.
The owner of brands including Koo baked beans and All Gold tomato sauce also warned shareholders of a profit fall in its year to end-September, with the ongoing challenge of fully recovering higher input costs persisting in its second half, resulting in marginally lower volumes.
Doyle had been appointed CEO in February 2020, and had been CFO since 2015, but had a prior history with the group. He departed in 2008 after being among a number of executives that were sanctioned after a price-fixing scandal which resulted in an almost R100 million fine.
