KAP Industrial Holdings has announced the resignation of long-serving CEO Gary Chaplin, who will step down at the end of October after nearly three decades with the group, 10 of those as its CEO.
The board has appointed Frans Olivier, the company’s current CFO, to succeed Chaplin from 1 November 2025. Olivier brings 19 years of experience within KAP. He is said to lead the group through its next strategic phase, which includes unlocking value from recent investments and addressing underperformance in some areas.
Chaplin’s departure marks the end of a significant era for KAP. His tenure as CEO was characterised by major challenges, including the collapse of a key shareholder, volatility in the polymer cycle, the Covid-19 pandemic, and a large-scale investment programme. Despite these headwinds, the group noted that it achieved meaningful growth.
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“Gary and KAP management have created, despite the aforesaid challenges, a strong platform for further growth and value creation,” read the Sens statement issued on Thursday. The board expressed gratitude for his contribution and confirmed that he will remain available for a period after his exit to support a smooth leadership transition.
Olivier’s appointment is said to be aligned with KAP’s three-year strategic plan. According to the board, his deep understanding of the group’s operations and markets makes him “ideally suited” to implement its next chapter, one focused on optimising returns, improving underperforming units, and managing debt levels.
KAP said it would appoint a new CFO in due course.
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