Durban - Famous Brands, which owns well-known fast food names such as Steers, Debonairs Pizza and the House of Coffees, has entered a new era with the appointment of its first black non-executive director, Bheki Sibiya.
Managing director Kevin Hedderwick said the move was a monumental step for Famous Brands, which had always been a family-based company, run by the Halamandaris family.
"We are very mindful of black economic empowerment and the need to take steps that are reflective of the changing South African environment," he said.
Hedderwick said the company was confident that Sibiya's background as chief executive of Business Unity SA and managing director of the Black Management Forum would stand him in good stead to guide the company forward in its BEE policies.
Sibiya said each company on the South African landscape was unique and he would be approaching each brand in the Famous Brands stable on the same basis.
"My role and responsibility in the next year will be to spend time understanding and appreciating each operation. The two issues to be closely examined will be broad transformation and good corporate governance," he said.
The plan for the year ahead will involve meetings with management and union leaders to discuss the way forward, and monitor implementation of BEE to ensure the company remains on track.
In the past year, the group acquired Pleasure Foods, comprising Wimpy and Whistle Stop, as well as Creative Coffees, which brought House of Coffees and the Brazilian Coffee Shop to the Famous Brands home.
Hedderwick said there were no further acquisitions on the cards but the company would be focusing on strengthening its existing brands.
"We will, of course, identify winning strategies used in different operations and apply these successful formulas across the board to elevate Famous Brands," he said.
Famous Brands closed unchanged at R4 yesterday while the hotel and leisure sector gained 0.41 percent on the day.