Metair Investments’ CEO Haffejee resigns

Metair Investments’ CEO Haffejee resigns

Metair Investments’ CEO Haffejee resigns 600 600 Batteries International

March 30, 2023: The CEO of batteries and auto components group Metair Investments, Riaz Haffejee, has resigned effective March 31.

The South Africa based group said in a regulatory filing on March 22 that Haffejee (pictured) would also step down from its social and ethics committee.

His departure comes after the group —  whose energy storage division includes Turkish lead battery firm Mutlu Akü, Romanian lead and lithium company Rombat and South Africa’s First National Battery — warned in a trading update on March 9 that it expects to report earnings per share reductions of at least 105%.

Metair said Haffejee, who joined the company two years ago, was leaving to pursue other opportunities “more in line with his personal career goals”.

Haffejee successfully led the group through the impact of Covid-19, floods and riots and the group’s board wished him well, Metair said. He will be available for a period of two months up to the end of May to ensure a smooth transition and handover, Metair said.

CFO Sjoerd Douwenga has been appointed as interim CEO and is joining Metair’s social and ethics committee. Finance executive Anesh Jogia has been appointed interim CFO.

Batteries International reported last February that Rombat had given the go-ahead to plans to install a new lead battery production line at its plant in Romania as part of a €10 million ($10.6 million) investment in the site for 2023.