EOH Holdings is ready to move forward with its new business strategy and board reconfiguration.
In March this year the group announced its new strategy which centred on reconfiguring into two distinct and independent businesses, each with its own CEO, brand and identity, business model, growth and go-to-market strategies.
The creation of the two independent businesses will be completed by 1 August 2018. The ICT business will operate under the EOH brand, while the specialised solutions for high-growth industries businesses will operate under the newly-launched Nextec brand.
The EOH Holdings corporate structure will be responsible for corporate finance, corporate strategy, group reporting, investor relations, risk and compliance. In addition to the growth expected from the two businesses, EOH Holdings will drive growth in the areas of innovation, own IP software, international business and emerging technologies.
Zunaid Mayet has been appointed as CEO of Nextec, relinquishing his role as CEO of EOH Holdings, and Rob Godlonton has been appointed as CEO of the EOH-branded business.
The board is in the process of finalising the appointment of a CEO for EOH Holdings, and will make an announcement shortly.
The board of EOH Holdings has been reconfigured with Jesmane Boggenpoel as independent non-executive director, chairperson of the governance and risk committee and a member of the audit committee; and Ismail Mamoojee as independent non-executive director, chairman of the audit committee and member of the governance and risk committee.
Lucky Khumalo has resigned from the board with effect from 1 July 2018, after serving as a non-executive director, and Johan van Jaarsveld will be leaving the group on 31 July 2018.
A number of directors have resigned from the board but will continue to hold executive roles in the business. They are Brian Gubbins, Rob Godlonton, Ebrahim Laher and Jehan Mackay.
In November 2017, EOH Holdings appointed leading law firm ENSafrica to undertake a governance review.
ENSafrica has concluded a review of the commercial activities of the GCT Group and found no evidence implicating EOH of complicity, awareness or condonation of any illicit activity that may or may not have taken place.
ENSafrica also found that a comprehensive due diligence was conducted prior to the acquisition of GCT and that there was no adverse information regarding GCT at the time. Accordingly, there was no impediment to engaging with GCT.
ENSafrica has been performing, and will continue to perform, an ongoing risk-based, monitoring and oversight role in all of the group’s major public sector bids, contracts and engagements.
ENSafrica has also overseen EOH’s review of all material current public sector contracts to ensure that governance relating to these contracts was adhered to. The EOH Group has adopted a checklist that was developed with ENSafrica to enhance governance and to promote consistency relating to public sector engagements.
ENSafrica has worked with the EOH Group to further develop and strengthen its due diligence procedures to ensure that all new business partners are screened to enhance business partner selection.
ENSafrica is also supporting EOH Holdings with its Group Regulatory Compliance framework and the adoption and implementation of the key principles of ISO 37001: the international standard for Anti-Bribery Management Systems (ABMS).