Phumelela CEO Rian du Plessis quits ‘for personal reasons’
Du Plessis is a close friend of former Steinhoff CE Markus Jooste, who sat on the Phumelela board before abruptly resigning at the start of Steinhoff’s accounting crisis
Phumelela Gaming and Leisure CEO Rian du Plessis has resigned from the horse-racing company after 10 years at the helm, and has pledged not to sell any company shares for the "foreseeable future". The executive quit for personal reasons and will be replaced by head of international operations John Stuart, the company said in a statement on Tuesday. Du Plessis is a close friend of Steinhoff International former CEO Markus Jooste, who sat on the Phumelela board before his abrupt resignation from Steinhoff at the start of the retailer’s accounting crisis in December. "John and his team are really well-armed and positioned to take the company to the next level. They have my full support," Du Plessis said by phone message, declining to elaborate on his decision to quit. Du Plessis’s departure comes after the company’s share price was hurt by the Steinhoff share collapse. Jooste’s horse-management company, Mayfair Speculators, was the second-biggest shareholder in Phumelela through an ent...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.