e Board of Directors of IBL Ltd wishes to inform its shareholders and the public that Mr. Arnaud Lagesse, Group CEO, has decided to exercise his entitlement to retire as per his contract of employment, effective on 30 June 2023.
e Board has taken note of the above and as the Group has embarked on an ambitious growth strategy both in Mauritius and overseas, and after discussions with Mr. Arnaud Lagesse, it has been unanimously decided that it was in the best interests of the IBL Group that Mr. Arnaud Lagesse be re-employed as Group CEO on a fixed-term contract starting on 1st August 2023.
e Board reassures its shareholders and the public that between 30th June 2023 and 1st August 2023, IBL's Executive Team shall ensure full business continuity.
By order of the Board
IBL Management Ltd
Company Secretary
26 June 2023
is communique is issued pursuant to Listing Rule 11.3 and Rule 5 of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007.
e Board of Directors of IBL Ltd accepts full responsibility for the accuracy of the information contained in this communique.
BRN C07001778
IBLGROUP.COM
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IBL Ltd. published this content on 27 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 June 2023 05:35:07 UTC.
IBL Ltd is a diversified group organized around 7 areas of activity:
- mass retailing (32.4% of net sales): distribution of consumer products (food, wines and spirits, household goods, personal care products, stationery products, etc.), printing equipment and consumables, pharmaceuticals , medical equipment, chemicals and agrochemicals;
- agri-food (21%): production and processing of sugar cane, production and bottling of beverages, production and processing of fish, etc.;
- engineering and construction (20.6%): manufacturing of building materials, development of diesel and electro-diesel engine repair and maintenance solutions, engineering and construction services for construction and industry sectors, sales of industrial and agricultural machinery, rental, servicing and maintenance of building and handling equipment, ship construction and repair services, etc. ;
- hotel operation (14.8%);
- logistics and transport (4.5%);
- financial services (4.3%): banking, insurance, financing services, investment fund management, investment services, etc.;
- other (2.4%): property, pharmaceutical and cosmetic products research and development services, development of testing and certification solutions, etc.
Net sales break down geographically as follows: Mauritius (83.1%), Madagascar-Comoros-Seychelles-Reunion (7.9%), Maldives (3.9%), Europe (2.3%), the United States (0.1%) and other (2.7%).
IBL LTD 