South Africa's Mondi names insider Peter Oswald as CEO
JOHANNESBURG, Feb 1 (Reuters) - South Africa's Mondi (EUREX: MDIF.EX - news) picked insider Peter Oswald as its next chief executive on Wednesday, giving him the challenge of growing its packaging business to offset slowing growth demand for paper.
Oswald, a 26-year Mondi (Frankfurt: KYC.F - news) veteran who heads its European and international unit, will replace David Hathorn, who is retiring after nearly three decades with the company.
Shares (Berlin: DI6.BE - news) in Mondi, which is also listed in London, were little changed at 296.41 rand as of 0922 GMT, lagging behind a 0.6 percent gain on the JSE All-share index. (Reporting by Tiisetso Motsoeneng)