KWV'S TOP TWO LEAVE

Published: 23 July, 2008

By Christian Davis

In a surprise move, KWV managing director Vernon Davis and finance director Gerhard de Kock have left South African wine industry giant KWV to join smaller rival Winecorp. Although the announcement of the resignations came as a shock, it is believed that the KWV board was certainly aware of Davis's desire to take up a fresh challenge. Due to the seniority of their respective positions, both resignations were with immediate effect, but the company was at pains to stress that the resignations were not acrimonious. Dr Willem Barnard, KWV's group managing director, will be the acting MD until replacements are appointed. Winecorp is owned by the Capricorn Group, an international investment organisation. It owns Spier Holdings, which in turn owns Winecorp Holdings, which is broken into Winecorp SA (unlisted), which includes the Spier, Savanha and Longridge wine brands and private label services division Winecorp Limited (35% of shares public-owned).

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