Mayet steps down as EOH CEO amid major restructuring

EOH CEO Zunaid Mayet

EOH CEO Zunaid Mayet is relinquishing his role as group CEO to take the reins at newly created subsidiary Nextec, the JSE-listed IT services group said in a statement on Wednesday before markets opened.

In March, EOH announced that it would split its business into two new operating entities, one under the EOH brand focusing on legacy ICT operations and a new business – which will be called Nextec – to focus on high-growth opportunities. Rob Godlonton will head the new EOH business.

The creation of the two independent businesses will be completed by 1 August, EOH said. The EOH Holdings corporate structure will be responsible for corporate finance, corporate strategy, group reporting, investor relations, risk and compliance. In addition to the growth expected from the two businesses described above, EOH Holdings will drive growth in the areas of innovation, own intellectual property and software, international business and emerging technologies, it said.

The board is in the process of finalising the appointment of a CEO for EOH Holdings. “The appointee is highly regarded, with a solid track record and a strong background in corporate finance, investment banking and technology. Further details on the new CEO will be made available in the coming weeks.”

At the same time, the group said it will “reconfigure” its board of directors. Jesmane Boggenpoel has been named as independent nonexecutive director, chair of the governance and risk committee, and a member of the audit committee, while Ismail Mamoojee has been appointed as an independent nonexecutive director, chairman of the audit committee, and member of the governance and risk committee.

The following directors will resign from the EOH Holdings board with effect from 1 July:

  • Lucky Khumalo, after serving as a non-executive director;
  • Brian Gubbins, who will continue in his executive role in the business;
  • Rob Godlonton, who will continue in his executive role in the business;
  • Ebrahim Laher, who will continue in his executive role in the business;
  • Jehan Mackay, who will continue in his executive role in the business; and
  • Johan van Jaarsveld, who will leave the group on 31 July. – © 2018 NewsCentral Media
  • This is a developing story … check back soon for more

Source: techcentral.co.za