Riaan van Wyk has resigned as chief executive of South African exporter Colors Fruit following an apparent move by two shareholder groups to seize control of the company’s future direction.
Bertus van der Merwe, previously a technical director at South African paper giant Sappi, will act as interim cover until a suitable replacement is found.
Three years ago, Van Wyk returned to head up the company he originally founded, after a management takeover bid failed and the executives involved departed to form another export company, Core Fruit.
It has emerged that the group’s two other major shareholders – the Carstens family and Farmsecure, who own 24 per cent and 33 per cent respectively alongside Van Wyk himself with 24 per cent – decided to vote together to seize control of Colors and, apparently, to oust the chief executive.
In a statement, Colors would only confirm that he remained an “indirect shareholder”, the official line apparently that Farmsecure and Colors have decided to work together more closely to each other’s mutual advantage.
Van Wyk declined to comment, only confirming that he had resigned in the first week of October.
The Colors board wished Van Wyk well and thanked him for his contribution over many years, adding: “Colors is not changing course and will continue to focus on building its strong brand, which is known in the fruit industry for excellence and innovation.”
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