Mondi welcomes new joint Chairman

Mondi, the international packaging and paper group, has appointed Frederik Phaswana as its joint Chairman as of June 1st, replacing Cyril Ramaphosa who stepped down at the start of this month.

Phaswana is Chairman of Standard Bank Group and The Standard Bank of South Africa and was also chairman of the South African Institute of International Affairs and non-executive director of Naspers.

David Williams, Joint Chairman, said: "The Mondi Group boards and I are delighted that Fred will be joining us. He brings extensive experience in board and senior business leadership roles and his knowledge of the South African business environment will be of particular benefit to Mondi."

The share price rose 0.87% to 922.50p by 12:45 Tuesday.

NR