Oceana Group, Africa’s largest fishing company, has appointed Peter Gerard de Beyer as its new independent director with effect from 15 July.
Gerard de Beyer, who has been serving as a non-executive board member of the Cape Town, South Africa-based seafood company, replaces Shams Pather, who died in March.
Separately, Oceana also appointed Zarina Bassa chairman of its audit committee and Lesego Sennelo as a member of the committee.
Oceana announced a strong performance for the year ending on 31 March, 2021, despite the disruptive COVID-19 pandemic. With the tweaking of its board leadership, Oceana said it hopes to keep on track in its implementation of growth projections, including an anticipated increase in the company’s canned fish and fishmeal and fish oil businesses through the ramp-up of production capacity.
Gerard de Beyer is a fellow of the Actuarial Society of South Africa and formerly deputy managing director of the South African division of Old Mutual Life Assurance Company. He also sits the corporate boards of Real People Investment Holdings and two subsidiaries of Old Mutual Group.
Gerard de Beyer is taking over leadership of the board as Oceana is exploring how to mitigate the uncertainty facing South Africa’s economy as the COVID-19 crisis persists and recent political protests. The protests, which followed the arrest and incarceration of former South Africa President Jacob Zuma on allegations of contempt of the country’s constitutional court, have disrupted the country’s supply chains.
Oceana previously said it was optimistic it could ride out the COVID-19 pandemic by focusing on ensuring a steady supply of product to sustain rising demand, while remaining strong on its pricing for fish meal and fish oil.
The company reported a 5 percent increase in its profit before tax to ZAR 488.8 million (USD 33.8 million EUR 28.6 million) for the financial year ending 31 March, 2021. Oceana also posted an increase in its headline earnings per a share and earnings per share by 4 percent and 13 percent, respectively.
Oceana posted a mixed financial performance in Q1 2021, largely dictated by the uncertainties created by the global pandemic, it announced in June.
Photo courtesy of Oceana Group
