15 January, 2014
Chief Executive Officer to step down due to ill-health
is with deep regret that the board of directors ("the board") of Sappi
Limited today announced that the CEO of the company, Ralph Boëttger,
will be relinquishing his position as CEO and director on 30 June 2014.
Ralph, who has been with Sappi as CEO for almost 7 years, has been
diagnosed with a serious illness and has taken the decision to step
Danie Cronjé, Chairman of the board of Sappi Limited, said: "I
personally and on behalf of the board and everyone at Sappi, express our
heartfelt thanks to Ralph for the sterling work he has done in leading
Sappi through a particularly challenging period in the company's proud
history. Under Ralph's leadership the group has been transformed. A
clear strategy and sound action plans are in place; the major projects
to re-position the group have been successfully completed and are
operational, leaving the company in a position for growth into the
"A process is in place to identify Ralph's successor and to allow for a timeous and smooth hand-over.
"On behalf of us all I wish Ralph and his family all the very best for the future."
on his decision, Ralph said: "I deeply regret having to make this
decision at this time as I am convinced that Sappi stands on the cusp of
a period of strong performance and exciting growth. However, I believe
that spending my time with my family has become the priority and that
it is in the best interest of the company and of my family for me to
step down as announced. I would like to thank Dr Cronjé, the board of
Sappi and every single employee for their support and dedication in
re-positioning Sappi for a great future."