Adcock Ingram CEO Jonathan Louw resigns

Adcock Ingram's chief executive Jonathan Louw has resigned from the pharmaceuticals group. In an announcement this afternoon on the Stock Exchange News Service, the company said Louw would be leaving with immediate effect to "pursue other interests". Which, in South African corporate speak, usually means he was fired.

Louw's departure is not a surprise. He backed the proposed acquisition by Chilean group CFR to the hilt, describing in a Press Conference that Adcock was the bride which had been readied for the CFR groom.  The takeover battle between CFR and eventual winners Bidvest was acrimonious. After Bidvest CEO Brian Joffe was installed as Adcock's chairman he said he would like to give management (ie Louw) time to prove himself.

Although he has a twitter account, Louw is not much of a communicator in the microblogging sphere. He did, however, post a single tweet on December 30 which is republished below. He and the new Mrs Louw will doubtless be hoping 2014 is a far better year.  – AH