Bohbot’s stellar run ends
Why Bohbot is quitting EOH
Can EOH keep soaring now that the founder plans to step down after a rip-roaring 19-year ride?
Asher Bohbot has been described by one analyst as the Steve Jobs of EOH. So you can understand why investors were so rattled when the IT company broke the news this week that its highly rated founder will step down next month. Coming as it did on the heels of an amaBhungane article linking EOH directors Danny and Jehan Mackay to Lunga Ncwana, the murky middleman for the SA Social Security Agency (Sassa), the decision seemed strangely ill-timed. But Bohbot (64) says his decision to quit now had "nothing whatsoever" to do with questions over the company’s relationship with the social development ministry. The article reported that Sassa awarded contracts worth R300m to EOH, while Ncwana (who is reportedly close to minister Bathabile Dlamini) is living in a R65m mansion that belongs to two EOH directors. "It’s absolutely not true, it’s as simple as that. Do you think that all these changes and me planning to leave happened in five minutes? It’s been a process inside the business as suc...
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.