Feb 10, 2014. /Lesprom Network/. The Board of Directors of Sappi Limited appoints Steve Binnie, currently the CFO of the company, as new CEO. He will succeed Ralph Boettger as CEO on July 1, 2014, as the company said in the press release received by Lesprom Network.

Steve Binnie joined Sappi on July 9, 2012 as CFO-designate and became CFO and joined the Sappi Limited Board on September 1, 2012. Prior to joining Sappi Steve had been the CFO of Edcon (Pty) Ltd since 2002. Prior to joining Edcon he was Group Financial Manager at Investec Bank Limited and held senior management positions at Transunion ITC and New Zealand Milk Products (SA).

Dr Danie Cronje, Chairman of the Board of Sappi Limited, said: "I would like to congratulate Steve on his appointment. The board believes that Steve has all the necessary skills and attributes to take Sappi forward and to deliver strong growth into the future.

"It is anticipated that a successor for the role of CFO will be announced before the end of June 2014."

Sappi Limited is a global pulp and paper company group. Sappi produces coated fine paper and chemical cellulose.