Click through to see an image of the outgoing CEO at KWV, Thys Loubser

Click through to see an image of the outgoing CEO at KWV, Thys Loubser

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KWV Holdings, which is facing major profitability challenges, will have to do so now without its CEO, Thys Loubser, who has resigned with immediate effect.

The South African wine and spirits company issued a brief statement today (Friday 15 July) as senior employees were informed at a 'management communications forum' meeting at its head office in Paarl.

André van der Veen, a senior executive with major shareholder HCI and director of KWV, will take over the role temporarily until a replacement can be appointed. This is expected to take about two months, according to sources.

KWV has offered a voluntary retrenchment package to the majority of its staff members across the company. The deadline to accept the packages is Wednesday (20 July).

Loubser has been CEO since January 2007.

HCI is in the process of restructuring the company and said that it was an opportune moment to change the leadership. KWV, which once had a staff compliment of nearly 1,300, is down about 360 and shrinking.

Neither Loubser or Van der Veen were available for comment.

To read the official statement, click here.