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Tiger Brands CFO steps down

Cape Town - Funke Ighodaro has resigned as chief financial officer and executive director from Tiger Brands.

South Africa's largest food producer said in a statement on Friday that Ighodaro stepped down to pursue other interests.

"Ighodaro has agreed to continue in her role as chief financial officer and executive director until 31 July 2016.

"The board wishes to thank Ighodaro for her valuable contributions to Tiger Brands over the past five years, and notes that she has successfully led a number of strategic cost initiatives during her tenure at Tiger Brands and that she was instrumental in ensuring the successful sale of the group's interest in Tiger Branded Consumer Goods Company (formerly Dangote Flour Mills)," it added.

The board indicated that it is considering its options with regards to a successor and details will be announced in due course.

The Johannesburg-based maker of Albany bread and Black Cat peanut butter announced in March the appointment of Mac Dougall as its new CEO, reported Fin24. Mac Dougall will join the company in May.

Tiger Brands will report its financial results for the six months ended March 31 2016 on May 24 2016.

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