To view the PDF file, sign up for a MySharenet subscription.

GIJIMA GROUP LIMITED - Appointment of CEO

Release Date: 10/10/2013 11:00
Code(s): GIJ     PDF:  
Wrap Text
Appointment of CEO

Gijima Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/021790/06)
Share code: GIJ
ISIN: ZAE000147443
("the Company")

APPOINTMENT OF CEO

Following the resignation of Gijima’s former Chief Executive
Officer, the Gijima Board decided to appoint our Chief
Operating Officer, Ms Eileen Wilton, to the position of
Interim CEO.

Ms Wilton is highly experienced in the ICT environment and had
served as Chief Information Officer for various multinational
companies such as Anglo American and Old Mutual.

Since assuming the Interim CEO position in October 2012,
Eileen has worked tirelessly with the Board and management in
pursuing and leading our turnaround strategy. She has reviewed
various key projects, implemented a savings programme, led the
successful R150m rights offer and has implemented a revised
operating    model.   Furthermore,   her    interaction   with
shareholders, clients and staff created a sense of comfort and
stability.

The board appreciates the manner in which Eileen has been
able, within a short period of time, to excel under difficult
circumstances. The Board has now resolved to appoint Ms Wilton
as the new CEO of Gijima with immediate effect. She has proved
herself as a dedicated, transparent, honest and decisive CEO.

EXECUTIVE CHAIRMAN

The Gijima Board has for some time been trying to persuade
its Chairman, Robert Gumede, to revert to the Executive
Chairman role because of the challenges that the company has
faced since 2010/11.

The Chairman had served as Executive Chairman from the
inception of Gijima. During that tenure he worked well with
former CEO John Miller and they were able to turn the then
ailing AST and the merged GijimaAst into a successful company.
When John Miller retired, he was replaced by Jonas Bogoshi.

Gumede continued as Executive Chairman, ensuring the business
was in a strong financial position, had new private and public
sector clients, hundreds of millions of cash in the bank, paid
off short term debt, increased revenue to almost R3 billion,
doubled the number of black staff members and paid maiden
dividends. Gumede decided to resign in 2008 as an Executive
Chairman, but remained as non-executive Chairman. He has been
involved in the rights offer and invested R75m (50% of the
R150m rights offer). Gumede has been working very closely with
Eileen Wilton in the turnaround of Gijima.

The Board has now succeeded in persuading Gumede to again
become Executive Chairman until such time that the company
turnaround is bedded down and Gijima is back to the glory
days.

Robert Gumede is appointed Executive Chairman with immediate
effect.

CFO & GROUP SALES DIRECTOR

Further announcements will be made in due course relating to
the CFO and Group Sales Director (Executive Board Members)
positions at Gijima. Our recruitment process for the two key
positions continues.

The Board welcomes and wishes Robert Gumede and Eileen Wilton
success in their new executive leadership positions. They are
both hands-on business leaders and the Board is committed to
continue working closely with and providing support to the
Executive Management.

“The Board is confident that Gijima has embarked on a new
journey that will yield success for shareholders, clients,
staff and the economy of our country,” says Dr Mark Bussin,
chairman of the Gijima remuneration committee.

Samrand
10 October 2013

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 10/10/2013 11:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story