TURNAROUND
Strategist appointed joint CEO at Ellies
The executive reshuffle comes as the group digs itself out of a four-year decline
Ellies’s turnaround specialist has been named interim joint CEO alongside chairman Ellies Salkow as the group digs itself out of a four-year decline. Adrian Bock, who joined the electronics company about 18 months ago as its chief financial officer, will continue in that role while in the post of joint CEO under a dispensation granted by the JSE. Former CEO Wayne Samson, who presided over a spectacular collapse in the Ellies share price, resigned last week to pursue other interests. According to the company, Bock’s dual role will not extend beyond April 30 2018 and Bock said that it was "very clear [that] in order to have authority to carry on the turnaround strategy it’s preferable the title changes to reflect that". But whether he is to take over permanently will probably be decided only at a board meeting in early December. Bock describes himself as the person "involved in checks and balances and implementation" while Salkow, who owns 19.49% of Ellies in his personal capacity "is...
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