MB Technologies founder Leo Baxter has stepped down as CEO of the group following an accident last month during which he sustained serious neck and spine injuries. Baxter will move into the role of chairman while Bruce McGregor takes over the reins as CEO.
Baxter has already been discharged from hospital but will now embark on a lengthy recovery process, the initial phase of which will be at leading treatment and research facilities in the US.
Bruce McGregor, previously business development director for MB Technologies, has been with the company since 1998 when started as group financial director.
"Bruce and I have worked together for many years and I am confident that he is the ideal candidate for the CEO position. He also has the support of a very experienced executive committee," says Baxter.
"My contribution to the group has primarily been of a strategic nature for some time now and being relieved of the day to day responsibilities will allow me to focus on this role," he adds.
"Leo has made remarkable progress since the accident and while we understand the prognosis of a full physical recovery is guarded, his passion and enthusiasm for the business is unaltered," says McGregor.
"He will be available to us during his rehabilitation and will continue to play a key role on the board. All of the companies within the MB Technologies group are run autonomously by experienced and competent management teams, so it is business as usual for the group," he says.
Niall Carroll, CEO of MB Technologies majority shareholder, Royal Bafokeng Holdings, adds: "The board has the utmost confidence in Bruce and the rest of management to continue moving MB Technologies forward. All of us at RBH have Leo and his family in our thoughts."