Message from Mike Hankinson, Chairman
Grindrod was initially founded in 1910 as a small coastal shipping company which grew into a diversified business with a Shipping Division managing and operating a fleet of 49 vessels, trading globally and employing crew from all over the world. In June 2018 the Shipping Division was separately listed on the Nasdaq in New York and on the JSE, a milestone in the Group’s history.
Grindrod Limited, now consists of two-divisions, namely: Freight Services and Financial Services. In August we announced the appointment of Andrew Waller as CEO and Xolani Mbambo as CFO, Grindrod Limited. Andrew and Xolani are also performing their respective roles for Freight Services and David Polkinghorne continues to lead Financial Services and Grindrod Bank.
The Freight Services executive team have made strides in cementing the strategy of adding diversity and scale to unlock trade corridors in Africa and have developed comprehensive plans to improve the profitability of the business. Grindrod Bank’s executive team are committed to ensure the smooth transition of SASSA retail clients to the new service provider.
Hassen Adams and Walter Geach retired as non-executive directors at the November board meeting. They have served on the Grindrod board from 2000 and 2008 respectively, and we thank them for their commitment and valuable input. We also say farewell to Bongiwe Ntuli at the end of December and wish her every success in the next chapter of her career. Effective 22 November 2018, I reverted to the role of non-executive chairman.
Wishing all our stakeholders a joyous festive season. May 2019 be happy and successful.