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JASCO ELECTRONICS HOLDINGS LIMITED - Resignation of Group Chief Executive Officer

Release Date: 29/05/2020 15:30
Code(s): JSC     PDF:  
 
Wrap Text
Resignation of Group Chief Executive Officer

JASCO ELECTRONICS HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration Number 1987/003293/06
Share code: JSC     ISIN: ZAE000003794
(“Jasco” or “the company” or “the group”)



RESIGNATION OF GROUP CHIEF EXECUTIVE OFFICER



Shareholders are advised that the group Chief Executive
Officer (“CEO”) Mark Janse van Vuuren is stepping down
effective 31 May 2020. Following the successful completion of
a restructuring and repositioning programme for the company
and its subsidiaries, Mark felt it was time to pursue his own
new interests, after 12 years of service with the group.


Under his leadership significant progress was made in driving
to resolution a number of complex matters the company faced.
The board wishes to thank Mark for his valuable contribution,
and specifically for the leadership he has shown guiding the
company through challenging times, including the latest
challenge caused by the COVID-19 pandemic in South Africa over
the last few months. As part of his planned exit, Mark will
continue to assist the board and the executive management on a
consultancy basis with certain key strategic projects until 30
September 2020.


Pete da Silva, alternate to the Deputy Chairman, will serve as
the interim group CEO with effect from 31 May 2020 while the
board evaluates potential successors. The board is expected to
make an announcement during the coming months. Warren
Prinsloo, the company’s group Chief Financial Officer, will
support the interim CEO during this time. The board is
confident that the current leadership team have the required
blend of experience, skills and expertise to deliver on the
business plan and company strategy ensuring the groups
continuity and success.


The Board thanks Mark for his contribution to the group and
many years of service and wishes him well in his future
endeavours.


Midrand
29 May 2020
Sponsor
Grindrod Bank Limited

Date: 29-05-2020 03:30:00
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