Business News

Dr. Danie Cronje Appointed Independent, Non-Executive Chairman of Sappi Limited

Thursday 21. February 2008 - Sappi Limited (NYSE:SPP), the global pulp and paper group, today announced that Dr. Daniel (Danie) Christiaan Cronje has been appointed independent non-executive chairman of Sappi Limited. He succeeds Eugene van As whose impending retirement as chairman and from the board at the annual general meeting on 03, March 2008, was announced earlier.

Dr. Cronje (61) was chairman of ABSA Group Ltd for 10 years until his retirement in June 2007. ABSA is a leading South African banking organisation in which Barclays plc obtained a majority share in 2005. He had been with the ABSA group since 1975 and held various executive positions including Group Chief Executive for 4 years prior to his tenure as chairman.

Commenting on his appointment, Dr. Cronje said: “I am honoured to have been asked to chair one of South Africa’s leading global companies. Sappi will remain committed to growing on a global basis and to delivering shareholder value.”

Speaking on behalf of the board, independent non-executive director, Dave Brink, paid tribute to outgoing chairman Eugene van As: “Sappi’s success in growing from a local pulp and paper producer to becoming the world leader in coated fine paper and chemical cellulose is testimony to the drive, determination and vision of a great leader. Eugene van As is an exceptional son of Africa who has played a crucial role in establishing Sappi as a business on the global stage.”

Dr. Cronje is also a director of Barclays plc, Barclays Bank plc and TSB Sugar Holdings Limited. He holds a DCom from Potchefstroom University (now the University of the North West).

Additional information on Danie Christiaan Cronje:

Dr. Cronje obtained his BCom, BCom (Hons) and MCom degrees also at Potchefstroom University. He obtained his DCom in 1975.

Career:
1969 Sanlam investment department
1969-1971 Trust Merchant Bank, investment department
1972-1975 Lecturer in Money and Banking at Potchefstroom University
1975-2007 Various positions at first Volkskas Merchant Bank, the Volkskas
Group, and the ABSA Group, including:
1988-1991 Group Chief Executive of the Volkskas Group
1991-1993 Deputy Group Chief Executive of the ABSA Group
1993-1997 Group Chief Executive of the ABSA Group
1997-2007 Chairman of the ABSA Group