Phil Roux News Today

Shareholders in Nampak have approved all the resolutions necessary to restructure its share capital and pave the way for a rights issue of up to R1 billion that is aimed at putting Africa's largest packaging group back on a firm footing.

Packaging group Nampak reported on Wednesday it swung into an interim loss of more than five times its R455 million market value, hit by massive writedowns as well as currency devaluation losses in Angola and Nigeria.

After initially tapping shareholders for a R2bn capital raise.

JSE-listed packaging company Nampak has instituted a vacancy freeze, will reduce headcount across the entire organisation, will reduce its head office and has reduced absolute salaries to stabilise the company, Nampak interim CEO Phil Roux said on May 24. This headcount reduction will be done in accordance with the rightsizing of the organisation to ensure it retains the appropriate competency set and will not be done all at once nor in a manner that is reckless, he added during a presentation o...

Nampak's new CEO Phil Roux is introducing a raft of changes to Africa's largest packaging group including combining some operations, while slashing costs and headcounts, as he looks to set it on the road to recovery.

Nampak's investors are anxiously waiting to see what turnaround steps new CEO Phil Roux will unveil when it releases results next week, after a dire profit warning on Friday sent the packaging group's shares crashing more than 15%.

Community members plan to protest Lakewoods treatment of homeless population.

Early Voting has been announced for Millbury and Sutton.

The local food pantries could really use donations now.

Adcorp Holdings appoints new chief executive By Sandile Mchunu Share Adcorp Holdings has announced the appointment of Dr John Wentzel as its new chief executive, with effect from April 1, 2021. Wentzel will replace Phil Roux who joined the group in April who was charged with stabilising the group and developing a sustainable performance platform. The group said Wentzel is an experienced business executive with more than 15 years of experience in the retail and workplace management solutions sec...