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September 22, 2020

Astral Foods CEO Chris Schutte hospitalised after accident

Chris Schutte, the chief executive of South African poultry processor Astral Foods, was admitted to hospital last weekend after he was involved in a motorcycle accident.

By Dean Best

Chris Schutte, the chief executive of South African poultry processor Astral Foods, was admitted to hospital last weekend after he was involved in a motorcycle accident in Great Karoo, Western Cape province.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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The incident occurred on Saturday (19 September) after which Schutte was airlifted to hospital with “multiple fractures”, Astral said in a statement.

It is the latest run of bad luck for Schutte, who, according to Astral in July, tested positive for Covid-19. He also underwent heart surgery during the summer. 

Astral said: “Once Chris is stabilised, he will be transported to Johannesburg, after which he will have to undergo operations, for the fractures sustained, by his medical team familiar with Chris’ health history. At this stage, the recovery period is unknown.

“Astral’s Board extends its best wishes to Chris Schutte and his family during this time…Chris Schutte’s return to office will be communicated at an appropriate time.”

In the meantime, Schutte’s duties will be taken care of by chief financial officer Daan Ferreira, who will be the main point of contact during the CEO’s absence.

Last week, Astral issued a profit warning due to costs associated with Covid-19 and depressed chicken pricing.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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