Johannesburg – IT service management company EOH announced on Monday that its founder and chief executive Asher Bohbot, will be stepping
down at the end of June 2017 after 19 years at the helm.
The move is part of a wider board reshuffle and succession planning process for the group’s leadership, EOH said in a statement to shareholders.
who previously worked as chief executive of the EOH Industrial
Technologies division will replace Bohbot as Group CEO. Mayet has been
with EOH for eight years and has had experience within the industry,
having worked at a global technology engineering group previously.
According to the statement Bohbot will be taking a six month sabbatical and will serve as an
adviser during this time. Bohbot will rejoin the board as a non-executive
director following his sabbatical.
changes indicate that chief executives of divisions at EOH will now
join the executive board of directors. Five new executive directors were
announced, four of which are CEOs of divisions.
Two directors have stepped down and will continue to serve in leadership roles in the business.
EOH share price reacted negatively to the news and gave up almost 4% to trade at R129 by 10:33 on the JSE.Read Fin24's top stories trending on Twitter: