Tiger Brands Tiger by the ta… oh, shut up.
In the past seven years, Tiger Brands has spent R25million on produce from emerging farmers across all nine provinces, benefiting more than 80 of those industrious sons (and presumably daughters) of the soil. Reading like a kitchen challenge from Masterchef, Tiger’s shopping list is composed largely of tomatoes, white beans, figs and butternuts, of which about 23,000 tons are procured annually, plus the occasional pig from one of the farmers. Nice work. The other Tiger news this week is that they've appointed a new CEO, Lawrence MacDougall, previously regional president for Eastern Europe, Middle East and Africa of snacking giant Mondelez International, and the market, liking his industry experience, has rewarded the Striped One with a 4.4% jump in the share price. MacDougall will be tasked with returning Tiger to profitable growth after the write downs from their unfortunate Nigerian adventure.
Comment: A tough time to take the helm, but a solid appointment by all accounts.