Sudden exit for Adcorp’s top two, Richard Pike and Nelis Swart
The company, which recently had a board reshuffle, has chosen a new CEO but is not ready to name him
Adcorp CEO Richard Pike and chief operating officer Nelis Swart are parting ways with the company "with immediate effect", the staffing group said on Monday.The departure of Pike and Swart comes shortly after a board reshuffle in which Wiphold founder Gloria Serobe was appointed chairwoman and former ANC cabinet minister Sydney Mufamadi joined the board on July 11.At the same time, Mfundiso Njeke, Nontobeko Ndhlazi and Timothy Ross resigned as nonexecutive directors. Monday’s statement said a new CEO had been selected, but his identity and start date would be announced only once he has finalised his exit arrangement with his current employer.Mark Jurgens, the former CEO and founder of Paracon, which Adcorp acquired in 2011, will be acting CEO until the unnamed new CEO takes the position. Jurgens will then replace Swart as chief operating officer.Cheryl-Jane Kujenga, who joined Adcorp as chief financial officer on July 1, will double as acting chief operating officer in the interim,...
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