Andile Mazwai quits as Rebosis CEO, and share price plunges
Rebosis says Mazwai is leaving for personal reasons and that deputy executive chair Sisa Ngebulana will double as CEO until a permanent appointment is made
The share price of property group Rebosis fell 9% to R7.40 on Wednesday after announcing CEO Andile Mazwai had resigned with immediate effect after seven months in the job. Rebosis said Mazwai, a former stockbroker, was leaving for personal reasons. Rebosis deputy executive chairperson Sisa Ngebulana will double as CEO until a permanent appointment is made. Ngebulana founded Rebosis and was its CEO until October 2017. The group said it was postponing the release of its interim results, which were scheduled for April 23, to May 8. The statement said this was "to allow Mr Ngebulana time to acquaint and update himself with the latest operational matters and financial aspects of the company for the six months ended February 28." "We respect Mr Mazwai’s decision, accept his resignation and wish him well in his future endeavours," Rebosis chairperson Anna Mokgokong said in Wednesday’s statement. "We are pleased Mr Ngebulana accepted this transitional responsibility as he comes with a wea...
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