RCL, the JSE-listed consumer goods and milling company, yesterday announced that its chief executive, Miles Dally, would be retiring after 18-years at the helm with Paul Cruickshank slated to take the company’s reins in December

Philippa Larkin | IOL

Dally, appointed as head of the firm in 2003, had informed the board of his intention to take normal retirement in accordance with company policy and to resign from the board with effect from the close of business on November 30, the company said.

“The board would like to extend its sincere thanks and appreciation to Miles for his invaluable leadership and contribution throughout his 18 years of committed service to the company and to wish him along and healthy retirement,” the board said.

It said Cruickshank would become the new chief executive with effect from December 1.

"Paul is qualified as a CA (SA) and joined the company in 2004. Over the last 17 years, he has gained extensive experience across commercial, supply chain and operational functions, culminating in his appointment to his current position of chief operating officer of the food division.,“ the board said.

Cruickshank will lead the firm as it is expected to produce strong results.

RCL has said in a trading statement for the year to June, that its headline earnings per share (heps) would be at least 90 cents, or 592 percent, higher when compared to the reported heps of 13c for the prior year, while its earnings per share for the current period would be at least 90c, or 187 percent, when compared to the reported eps of negative 103c for the comparative period.