Africa’s largest fishing company, Oceana Group, has announced the resignation of its chief operating officer and executive director Elton Bosch barely eight months after he was appointed to the position.
The South Africa-based company, which markets and sells approximately 276,000 metric tons of fish and fish products across 46 countries, said on 31 January that Bosch had left his position to “pursue other business interests.”
“The company would like to thank Mr. Bosch for his contribution during his tenure,” Oceana Group said in a brief statement, adding that it will shortly commence the process of “identifying a suitable replacement.”
Bosch has many years’ experience in the private sector, having previously held various executive positions including chief financial officer and executive for business development, risk, Africa, HR, and IT at Clover Industries Limited. He was also an audit and advisory partner at Deloitte & Touche Inc., and director and shareholder of Gobodo Inc., according to a previous Oceana release.
The Oceana Group, which has 10 members on its board – the majority of whom are independent non-executive directors with one “lead independent director to ensure that the necessary independence is maintained in the functioning of the board” – had previously described Bosch as “a seasoned business executive with a wealth of experience across Africa, as well as exposure to the European and Asian markets.”
The departure of Bosch comes just months after the Oceana Group announced a series of resignations and appointments as the company firmed its new growth strategy for next decade. The changes included the exit, early last year, of Lawrence MacDougall and Noel Doyle, following the divesting of Tiger Brands from Oceana Group in late 2018.
It was at this time that the company also confirmed the resignation of group executive Jillian Marais early last year, and the appointment of Adela Fortune as her replacement.
Last year saw tough operating circumstances for companies in South Africa as consumers of fish and fish products came under significant pressure because of the "high unemployment, low wage growth, and high debt levels contributing to reduced consumer demand and a steep decline in the country’s retail index,” the company said.
Oceana Group said it has initiated discussions with South Africa's government on the renewal of the company’s long-term fishing rights – in the hake deep-sea trawl, squid, South Coast rock lobster, and small pelagic fisheries.
The delayed 2020 Fishing Rights Allocation Process, which Oceana said has “created an element of uncertainty,” is expected to be completed this year.
The Oceana Group has five major operations across the U.S., South Africa, Namibia, and Angola, including Lucky Star (canned fish/fishmeal), Daybrook Fisheries (fishmeal and fish oil), Blue Continent Products (horse mackerel and hake), Oceana Lobster (lobster and squid), and CCS Logistics, which provides refrigerated warehouse facilities.
Photo courtesy of the Oceana Group
