Sappi announces new Chief Financial Officer

Sappi Limited has announced that Glen Pearce, currently the Chief Financial Officer of Sappi Europe SA, will be appointed as Chief Financial Officer (CFO) and join the Sappi Limited Board as an Executive Director on 01 July 2014. Steve Binnie, the current CFO, will succeed Ralph Boëttger as CEO on that date. Glen Pearce (50) was appointed as CFO of Sappi Europe SA in 2008. He has been with Sappi for 18 years. Prior to his current role, Glen occupied various senior management positions within the Sappi group in South Africa and Europe. He is a Chartered Accountant and holds a BComm degree from WITS University and a BComm (Hons) degree from UNISA. Commenting on the announcement, Sappi Chief Executive Officer, Ralph Boëttger, said, ‘I am very pleased that our robust succession planning process has enabled us to appoint a strong internal candidate. Glen’s in-depth knowledge of Sappi and his sterling track record will serve the company well on its path towards strong growth and profitability.’