Dan Marokane has been appointed as acting chief executive officer (CEO) of Tongaat Hulett following Gavin Hudson’s resignation last week.
Marokane will be tasked with stewarding a difficult period for the sugar giant, which remains in an active voluntary business rescue process after the company could not meet debt repayments at the end of last year.
This followed a host of alleged fraudulent accounting irregularities by the previous board which took place between 2015 and 2018.
The business rescue practitioners (BRPs) are currently working on a highly anticipated business rescue plan which is expected at the end of February, when Hudson will leave office.
Marokane has been with the company since 2018 and is currently the chief business transformation officer, as well as being part of the management team which has led debt reduction efforts in the past five years.
He was appointed as an executive director at Tongaat Hulett in 2019 and was previously the chairman of Hippo Valley Estates Limited, a Zimbabwean subsidiary of the company.
“He played an important role in internal cash flow optimisation programmes and the management of the company’s asset disposals,” said Tongaat Hulett BRP spokesperson, Heidi Geldenhuys,
Marokane holds a BSc Chem Eng, MSc Pet Eng and an MBA degree and has worked in various executive roles across the oil and gas, power and agro-processing industries over the past 20 years.
