Breaking News - Ivan Clark retires

May 26, 2006
Author: P&S

Durban, 26 May 2006 - Murray Grindrod, the Chairman of Grindrod, the shipping and logistics group announced today the retirement of Grindrod’s CEO Ivan Clark with effect from 31 December 2006.

He went on to say that Mr Clark had been with the group for almost 30 years and had reached retirement age of 63 and following seven years of success at the helm of Grindrod, Mr Clark felt that it would be in the group’s interests that a new Chief Executive Officer be appointed.

Ivan Clark, retiring CEO of the Grindrod Group

Mr Grindrod also announced that Mr Clark would take over as non-Executive Deputy Chairman of the group with effect from 1 January 2007 with Mr David White the current Deputy Chairman continuing as a non-Executive Director.

It was further announced by Mr Grindrod that Mr Alan Olivier currently an Executive Director and the Managing Director of Unicorn Shipping would take on the role of Chief Executive Officer designate with immediate effect while carrying on with his current role and would succeed Mr Clark as Chief Executive from 1 January 2007.

Mr Grindrod went on to say that he was confident in the appointment of Mr Olivier who has had 20 years service with the group during which period he has at all times reported to Mr Clark and wished him success in his new position.

He further added that Mr Clark had been a most successful CEO who had taken Grindrod to a much bigger and stronger company which had reached new heights and continues to operate most successfully. He added, “with Mr Clark taking on the role of Deputy Chairman he will continue to be of great value to the company and will allow a smooth transition of the Chief Executive role.”



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