March 4, 2019 / 11:34 AM / 21 days ago

South Africa's Bidvest appoints CEO in waiting

JOHANNESBURG, March 4 (Reuters) - South Africa’s Bidvest Group has appointed Mpumi Madisa as chief executive designate to ensure a smooth transition into the top job, the company said on Monday.

Madisa will work closely with current CEO Lindsay Ralphs until the 2021 financial year, the trading, distribution and services company said after posting a close to 10 percent rise in half-year earnings.

“This is consistent with a comprehensive succession plan that was developed and has been executed over the past several years to specifically mentor and continue her (Madisa’s) preparation for the chief executive role,” Bidvest said. (Reporting by Tanisha Heiberg Editing by David Goodman)

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