Leadership shakeup boosts EOH’s battered share price
Software group EOH’s founder and former CEO, Asher Bohbot, has been named nonexecutive chairman in a leadership shakeup at the group, announced on Monday.
He replaces Sandile Zungu, who has resigned as chairman after four years in the role.
Nonexecutive director Grathel Motau is also leaving the board, having accepted a permanent executive role elsewhere.
Tebogo Maenetja has been appointed executive director responsible for group human resources and transformation.
Maenetja was a seasoned HR executive, holding two honours degrees in social work and a master’s in industrial social work, EOH said in its statement.
In December EOH said Bohbot was returning to the company in a permanent executive role. He had left in June.
EOH came under significant pressure in the course of 2017 and its share price lost 59% over the course of the year.
This was due to, among other things, forced selling of shares by EOH directors and shareholders, as well as allegations against one of its now former subsidiaries.
In December Bohbot returned on a full-time contract "to focus on strategy and stakeholder management", the company said in a statement at the time.
At 10.30am on Monday, EOH’s share price was up 1.37% at R74. It has gained 9.73% in 2018 so far.