Ivan Clark steps down in surprise move

TERRY HUTSON THE ANNOUNCEMENT by Murray Grindrod on Friday (May 26) that chief executive officer Ivan Clark is to step down with effect from the end of this year has taken many people by surprise, particularly in view of the spectacular success of the group since Clark took the helm in 1999. Clark’s appointment as MD and CEO coincided with the takeover of Island View Shipping (IVS) and the turnaround in the company’s fortunes. Within a few years Grindrod was riding the crest of a wave that shows no sign of receding. In his formal announcement Murray Grindrod said that Clark had reached retirement age of 63. He said that following seven years of success, Clark felt that it was in the group’s interests that a new CEO took over. Clark would however not be lost to the company and would take over as non-executive deputy chairman of the group on January 1, 2007. “With Mr Clark taking on the role of deputy chairman he will continue to be of great value to the company and will allow a smooth transition of the chief executive role,” said Grindrod, adding that Clark had been a most successful CEO who had taken Grindrod to new heights and continued to operate most successfully. Clark’s successor as chief executive designate is Alan Olivier, who takes up the position of CEO designate with immediate effect and who will succeed Clark on January 1, 2007. Olivier, who has been with the group since 1986, is currently an executive director of Grindrod and managing director of Unicorn Shipping. He will continue in his current role with the latter in the interim.