AdvTech: Chief to step down by next December

AdvTech chief executive Frank Thompson has notified the board of his intention to step down by December next year. The education and recruitment group said yesterday that this extended notice would facilitate an orderly and well-planned transition. Thompson, who has been with the company for 11 years, said: “It has been a pleasure and privilege to lead AdvTech over this time. We have a great team of professionals at every level in our group and I am very proud of all they do for our students and employment candidates.” He said the group’s roll-out of investments, which now totalled R3 billion, would deliver real growth through the next decade. The board plans to make an appointment and implement a handover well in advance of Thompson stepping down. AdvTech shares fell 2.24 percent to close at R6.55 on the JSE yesterday.