Most South African fast moving consumer goods companies have faced headwinds including inflation, high interest rates and higher costs in dealing with the impact of rolling daily power cuts. This has impacted their profits, margins and sent annual targets awry.

The end of Doyle's tenure was a joint decision after "the Board concluded that new leadership was required to respond to the challenges currently facing the company", Tiger Brands said.

He will also be leaving the company after almost two decades, Tiger Brands said in a statement.

The end of Doyle's tenure was a joint decision after "the Board concluded that new leadership was required to respond to the challenges currently facing the company", the company said.

He will remain available until March 31 to facilitate the handover to Tjaart, the former CEO of rival Premier Foods.

--Reuters--