Brian Joffe to step down as Long4Life CEO and take on chairperson role
Brian Joffe (former Bidvest CEO) will step down as CEO of JSE-listed Long4Life in February 2022.
He'll take over the role of Chairperson from Graham Dempster who'll become Deputy Chair.
The company says "the Board has commenced a process to identify Brian’s successor and to allow for a timeous and smooth hand-over."
Long4Life posted its results for the six months ended 31 August 2021 on Thursday.
Revenue increased by 30% to R1.8 billion compared to the same period in 2020.
Headline earnings per share were up 55% from the 2019 period at 22.5 cents
The company also announced that it had received "an unsolicited expression of interest" to acquire all shares.
Brands owned by Long4Life include Sportsmans Warehouse, Outdoor Warehouse and the Sorbet franchise.
In conversation with Bruce Whitfield, Joffe says the expression of interest is from a local corporation.
We need to do what's best for the company and employees and other stakeholders, so the Board will evaluate that and decide what's in everybody's best interests.Brian Joffe, CEO - Long4Life
Unfortunately, I guess, two things happened since we started. The one was that we never really got a rating, which limited us in a way... and we always felt that there was better value in Long4Life than there was in an acquisition, which is manifesting itself right now. The other thing of course was Covid...Brian Joffe, CEO - Long4Life
I'm 74, so I think I do want to do some things on my own and be able to enjoy some of the hard work that I've done over the years, but more importantly I guess is that the company is deserving of some new blood... We've got some real big opportunities to build something special...Brian Joffe, CEO - Long4Life
Listen to the interview with the corporate heavyweight below:
This article first appeared on CapeTalk : Brian Joffe to step down as Long4Life CEO and take on chairperson role