Steve Binnie to Become Sappi Ltd's CEO on July 1

Steve Binnie

Feb. 10, 2014 - Sappi Limited announced that Steve Binnie, currently Chief Financial Officer of the company, will succeed Ralph Boëttger as CEO on July 1, 2014.

Binnie (46) joined Sappi on July 9, 2012 as CFO-designate and became CFO and joined the Sappi Limited Board on September 1, 2012.

Prior to joining Sappi, Binnie had been the CFO of Edcon (Pty) Ltd since 2002. Prior to joining Edcon, he was Group Financial Manager at Investec Bank Limited and held senior management positions at Transunion ITC and New Zealand Milk Products (SA).

Binnie is a Chartered Account and holds an MBA from Heriot-Watt University, Edinburgh, Scotland.

Dr Danie Cronjé, Chairman of the Board of Sappi Limited, said, "I would like to congratulate Steve on his appointment. The board believes that Steve has all the necessary skills and attributes to take Sappi forward and to deliver strong growth into the future.

"It is anticipated that a successor for the role of CFO will be announced before the end of June 2014."

SOURCE: Sappi Limited