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Arnold Fourie leaves the company he founded

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After nearly 25 years at the helm, former founder, CEO and current non-executive chairman of Alviva (formerly Pinnacle), Arnold Fourie, is stepping away from the company.
In a statement in its latest set of financials, Alviva says: “Further to previously announced succession planning measures, Arnold Fourie, the previous long-standing CEO and current non-executive Chairperson, has announced his intention to step down from this role and from the Board. He will remain as Chairperson until a suitable candidate to replace him has been found.
“It is Arnold’s view that the succession planning has been successfully implemented with a management team and Board that is capable of taking the Alviva group to new heights.
“Although we will greatly miss all of Arnold’s wisdom, experience and counsel, the appointment of an independent non-executive Chairperson will further strengthen the independence of the Board.”