Harare, (New Ziana) – Vision Group, which is taking over Tongaat Hulett operations including those of Hippo Valley Estates and Triangle Limited in Zimbabwe, has announced the appointment of Gavin Dalgleish as the group chief executive officer with effect from April this year.
Vision Group is a South African investment consortium created to acquire the assets and business of Tongaat at about ZAR5.9 billion (US$320.48 million) through a debt-to-asset swap transaction. Dalgleish’s appointment comes as Vision prepares the takeover of the agriculture and agri-processing firm.
Gavin’s appointment date (April 1) is the date that is envisaged as the closing date for Vision’s acquisition of THL assets. He takes over from Rob Aitken who has been acting CEO since March last year. Until the latest appointment, he was CEO of Illovo Sugar Africa.
Aitken is expected to remain as part of the Vision group’s leadership.
In Zimbabwe, Tongaat operates through its wholly owned Triangle Sugar operation and a 50,3 percent shareholding in the agriculture and agro-processing firm, Hippo Valley Estates Limited (HVEL).
“Gavin joins the Vision Group from his most recent role as CEO of Illovo Sugar Africa. He will lead the stabilisation and turnaround of the sugar business as well as its strategic downstream diversification through the next exciting chapter of the business’ long history,” the group said in a statement to stakeholders.
“Under Gavin’s leadership, the company hopes to create a legacy of being a proudly African business. The new Shareholder appreciated the Tongaat leadership teams across all jurisdictions who stepped up to support the process as well as the 28 000 Tongaat people in South Africa, Mozambique, Zimbabwe, and Botswana for their unwavering contributions during the difficult period of the past.
Vision also acknowledged the various stakeholders who have continued to support the business through this challenging period.
“Vision is grateful to the BRP team, the IDC and all the Lender Groups for their efforts. Stakeholders should note that the announced changes are at Group level and will not affect the running of the Zimbabwean operations.”
New Ziana
