PINNACLE Holdings CEO Arnold Fourie has said he will hand over the reins to his deputy, Pierre Spies — but not any time soon. It may take two years or more for him to extricate himself from a business he started more than two decades ago.Fourie was clear that he would leave only once he was satisfied the business was in good shape and back on a growth path.While he is aware that at some point he will have to retire, it will not be an easy thing to do. The new CEO will surely have new ideas and different management skills. Investors will also be watching carefully, given that the interim results, announced last week, were a little disappointing.During his presentation, Fourie, for the first time in many years, went all out to provide details about the business and his recovery plans. Pinnacle has suspended its dividend until gearing has been reduced by at least half.Management has been hard at work to regain shareholder confidence following the reputational damage it suffered almost ...
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