Johannesburg - ICT group Jasco [JSE:JSC] announced on Friday that COO Mark van Vuuren will be taking over as CEO from July 1, with current CEO Pete da Silva moving to a non-executive director position following a restructuring.
The JSE-listed firm said in a note to shareholders that there has been succession planning in place in recent years to ensure “leadership continuity”.
Van Vuuren has been at Jasco for 10 years, starting off as managing director of Jasco ICT Solutions, before being appointed as COO in 2013. He has been attending board meetings over the last 18 months.
He was previously the COO at Nokia Siemens Networks and also founded his own company in the ICT industry.
The board thanked Da Silva, who has been Jasco’s CEO since 2011.
“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”, Jasco chairperson Dr Anna Mokgokong commented.
In April, Jasco Carrier Solutions launched a new fibre network monitoring instruments which allows operators to isolate faults and take immediate action as high-speed fibre internet becomes increasingly popular in parts of South Africa.
Jasco shares were trading down 1.67% at 59c by 11:54 on the JSE.
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