Vodacom exec enters Tiger lair

Johannesburg, 12 Feb 2008

Peter Matlare, Vodacom's chief strategy and business development officer, will leave the cellular giant to fill the hot seat at Tiger Brands.

Tiger Brands informed its shareholders today that Matlare would fill the shoes of outgoing CEO Nick Dennis, who opted for early retirement, as of 1 April.

"The board of Tiger Brands is pleased to have secured the services of Peter Matlare and believes he will bring strong leadership, together with operational and strategic capabilities, to the role that will be in the interests of all stakeholders," the company said.

Vodacom chief communications officer Dot Field has said Matlare's departure is "a great loss for Vodacom".

"We would like to thank him for his immense contribution in a short space of time. We wish him every success in future," she added.

Matlare joined Vodacom in April 2005 and was previously group chief executive of the SABC.

Challenges ahead

After being fined R99 million for its involvement in the bread price-fixing saga, Tiger Brands has also been implicated in the possible fixing of medicine prices.

The company's wholly-owned pharmaceutical subsidiary, Adcock Ingram, has been accused of colluding with competitors over a seven-year period to land lucrative government contracts for various medicines.

The Competition Commission has said all the accused in the case, including Tiger Brands, have denied involvement in such a scheme, but it has detailed information with which to proceed with prosecution.