Gavin Hudson to leave embattled sugar producer at the end of February after nearly four years at the helm
Tongaat Hulett CEO Gavin Hudson has resigned from the beleaguered sugar group, while a second postponement of the publication of its business rescue plan by a month was also approved by creditors, the group’s business rescue practitioners said.
“Hudson spearheaded efforts to recover the group four years ago after the discovery of accounting irregularities in 2019,” the BRPs and board said in a statement, lauding Hudson for his contribution in reducing the group’s debt burden by R6.5bn and turning around governance and operational processes.
Now on the eve of the due date, the group has once again opted for a postponement until February 8, saying the extension was requested to allow further time to progress the complex work streams.
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