CEO of South Africa's Second-Biggest Company to Step Down
- Bidvest founder Brian Joffe to hand over to Ralphs as CEO
- Will become executive chairman of food services company
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Brian Joffe, who founded Bidvest Group Ltd. almost 30 years ago, plans to step down as chief executive officer of South Africa’s second-biggest company by sales after the food-services unit is spun off and its shares sold on the Johannesburg Stock Exchange.
Joffe, 68, will hand over to Lindsay Ralphs, currently CEO of the company’s South African Industrials unit, Joffe said in a presentation in Johannesburg on Monday. Joffe will continue as a director and assist with advice on “strategic issues” when needed, he said. He will become executive chairman of the food-services company.