Sappi announces Steve Binnie to Succeed Mark Thompson as Chief Financial Officer

Steve Binnie (44) has been CFO of Edcon since 2002. Prior to joining Edcon he was Group Financial Manager at Investec Bank Limited and held senior management positions at Transunion ITC and New Zealand Milk Products (SA). He is a Chartered Account and holds an MBA from Heriot-Watt University, Edinburgh, Scotland.

Commenting on the announcement, Sappi Chief Executive Officer, Ralph Boettger, said: "I am pleased that we have dealt with the succession of Mark Thompson as CFO in such a timeous manner. Mark has done a sterling job since his appointment in 2006 as CFO and prior to that as Sappi’s Legal Counsel. I am confident that in Steve Binnie we have found a capable and well experienced CFO who will ensure a smooth succession.