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Changes to the Board and New CEO
JASCO ELECTRONICS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 1987/003293/06)
Share Code: JSC ISIN: ZAE000003794
("Jasco" or “the Group”)
CHANGES TO THE BOARD AND NEW CEO
Shareholders are advised that after seven years at the helm of the
Group, current Chief Executive Officer (“CEO”) Pete da Silva will
take up the position of a Non-Executive Director on the Board
following the successful implementation of the group’s restructure
in line with the Board’s objectives. Mark van Vuuren, the current
Chief Operating Officer (“COO”), will be appointed as CEO with
effect from 1 July 2018.
Succession planning has been in place over the last few years to
ensure leadership continuity within the senior management team.
Mark has worked closely with Pete in preparation over the last 18
months. He has been with Jasco for the last ten years, firstly as
managing director of Jasco ICT Solutions and then as COO since
late 2013. Mark has also been on the group’s executive committee
since 2012. As part of management development, Mark has attended
the Jasco Board meetings by invitation over the last 18 months.
Prior to Jasco, Mark was the COO at Nokia Siemens Networks and
also founded his own company in the ICT industry. The Board is
confident that Mark will successfully drive the Group's growth
strategy and wishes him well for the future.
Pete will continue to contribute to the Group on the Jasco Board
in his new role as a Non-Executive Director to ensure a smooth
transition and to assist the Group with its future growth and
funding strategy.
Dr Anna Mokgokong, Chairman of the Board, commented: “Pete and his
executive team has addressed a number of challenges during his
time as CEO and successfully implemented the group’s turnaround
strategy against tough market conditions. He leaves Jasco with a
stable and diversified team at executive level which is ready for
future growth. We thank him for his contribution and inspiring
leadership during his time as CEO and look forward to his future
contribution as a Non-Executive Director. "
Johannesburg
4 May 2018
Sponsor: Grindrod Bank Limited
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