Johannesburg - Frank Cadiz, the founder of the South African financial services firm Cadiz Group and the chief executive of its asset management arm, has resigned after a clash with shareholders, the company said on Thursday.
Cadiz stood down on January 20 and was replaced by Brian Wootton, who was appointed at the behest of UK-based investment firm Blackstar Group SE, a major Cadiz shareholder, a company spokesman said.
Cadiz Asset Management has R34 billion of assets under management, according to its website.
A company source said the firm was undergoing a restructuring that included staff cuts.
Reuters