SECOND SHAKE-UP IN SIX MONTHS
Invicta boss Walters calls it quits
Former CEO Arnold Goldstone will reassume the role of CEO from February
Charles Walters on Monday unexpectedly stepped down as CEO of industrial supplies giant Invicta Holdings barely 18 months after taking the hot seat. Invicta, in which retail tycoon Christo Wiese is the largest shareholder, is one of the largest industrial counters on the JSE with a market capitalisation of more than R7.5bn. No reasons were given for Walters’ shock decision, but the company said he would remain available in a consulting capacity until the end of November 2017. Former CEO Arnold Goldstone, Invicta’s executive deputy chairman, will reassume the role of CEO from February. Goldstone served as Invicta’s CEO from April 2000 to April 2015 — a period of rapid growth for the acquisitive company. Even though most market watchers were taken aback by Walters’ resignation, the share price was unruffled and trading at a 12-month high in the afternoon. Shares in Invicta — which are trading under a cautionary notice — are up about 24% in the past 30 days. Walters earned his stripes ...
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