Tarsus bosses step down as Alviva closes in on deal

Tarsus Technology Group CEO Miles Crisp and financial director Joanne Tanner are stepping from the technology distribution company amid a R185-million takeover bid by JSE-listed Alviva Holdings.

Tarsus announced on Tuesday that Crisp and Tanner have resigned to “pursue fresh opportunities outside the group”. It did not say what they would be doing next.

“Both have played a key role in leading Tarsus Technology Group’s growth over the past decade and in positioning the group as one of the leading broad-based ICT distributors in South Africa,” Tarsus said in a statement.

“Crisp was appointed as group CEO in 2014 with a mandate from the board and majority shareholder, Investec, to optimise operations, de-risk funding, strengthen governance and facilitate the sale of the group to a new owner. Crisp has achieved these goals, culminating in the announcement last year that Alviva Holdings plans to acquire Tarsus.”

A new CEO will be appointed by the board “shortly”.

Tanner, who has been with Tarsus for 10 years, played an “instrumental role in structuring the Alviva transaction”, the company said.

“Although we would have been pleased to retain the services of Miles and Joanne after the acquisition, we respect their decision to pursue new careers and wish them well,” said Tarsus chairman Lawrence Barnett.

Succession plan

Barnett said Crisp and Tanner both developed strong leadership teams and leave the company with a “healthy succession plan” in place.

“The group companies have worked hard at nurturing talent and creating depth and capability in the wider leadership team. We expect a smooth transition to new leaders in the months ahead.”

The acquisition of Tarsus by Alviva remains subject to approval by the Competition Commission. “The due diligence process has been completed and other suspensive conditions relating to the transaction have been agreed to by Investec and Alviva,” Tarsus said.  — (c) 2021 NewsCentral Media

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