The Board of Directors of Adcorp Holdings Limited announced the appointment of Dr. John Peter Wentzel as the new Chief Executive Officer, with effect from 1 April 2021. John will replace Phil Roux, who joined the Group in April 2020 as CEO, charged with stabilizing the Company and developing a sustainable performance platform. Phil's term is planned to end on 30 April 2021. When the Board appointed Phil in April 2020, it was a common understanding by both parties that Phil would serve in a short-term capacity, given the task at hand and his preference for the FMCG industry. The Board, as a consequence, was obliged to commence the search for a permanent Chief Executive Officer soon after his appointment. The latter provides context to the appointment of Dr. John Peter Wentzel as its next Chief Executive Officer, thereby upcoming a seamless transition, given the excellent work that Phil has accomplished, until the stated departure date above. Whilst Phil will continue to serve as the CEO until April 2021. Dr. John Wentzel is an experienced business executive with more than 15 years of experience in the Retail and Workplace Management Solutions sectors. He has a genuine passion for the industry and is committed to advancing and innovating within the sector. John is currently the Chief Executive Officer at Tsebo International.