Net1 today announced that, after 22 years with Net1, CEO Herman Kotzé will be stepping down on 30 September 2020.
“Following a number of transformational corporate actions over the last year, including the sale of certain material assets and the retirement of all outstanding debt, I believe that Net1 is well placed to pursue a new strategic direction with a strong balance sheet and that it is the appropriate time for me to explore other opportunities,” Kotze says.
“I have spent almost my entire career at Net1 and I am grateful to have worked with so many talented and dedicated employees and to have been part of the company’s incredible journey from its early days as a start-up venture.”
Alex Smith, chief financial officer of Net1, will take over as the interim CEO; and Kotzé has agreed to provide consulting services to the through 31 May 2021.
“Net1 is an indelible part of my life and I wish the group great success with its future endeavors,” Kotzé says.
“We thank Herman for his significant contribution to the company and wish him great success in his future enterprises,” comments Net1 chairman Jabu Mabuza. “During his tenure at Net1, the company attained a number of significant milestones and he leaves Net1 as a well-capitalised business with a solid platform for growth.
“We also welcome Alex into the role of interim CEO. He brings continuity to this transition process and we are confident that the company will be in safe hands under Alex’s stewardship until a permanent CEO is appointed.”