KAP Group CEO Gary Chaplin to step down, Frans Olivier appointed successor

KAP Group announced on Thursday that CEO Gary Chaplin will step down from his executive role effective October 31, 2025, after 28 years with the company, including a decade as CEO.

During his tenure, Chaplin steered KAP through significant challenges, including the collapse of its major shareholder, a downturn in the polymer cycle, the COVID-19 pandemic, and a recent major investment cycle. Under his leadership, the group achieved substantial growth and built a robust platform for future value creation, the company said in a statement.

The KAP Board expressed gratitude for Chaplin’s contributions to the group, its shareholders, customers, and staff, acknowledging the loss his departure represents while respecting his decision. Chaplin will remain available post-October 2025 to support the Board and his successor, ensuring a smooth transition.

The Board has appointed Frans Olivier, the group’s current chief financial officer, as CEO effective November 1, 2025. Olivier, who has been with KAP for 19 years, was selected in line with the company’s director nomination policy. He brings extensive knowledge of KAP’s markets, strategy, and operations, positioning him to execute the group’s three-year strategic plan. This plan focuses on extracting value from recent investments, improving underperforming operations, and reducing debt. Olivier will be supported by a strong management team at both group and operational levels.

The Board will announce a new CFO to replace Olivier in due course.

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