Eqstra: Chief executive hangs up the gloves

EQSTRA’s chief executive Walter Hill has retired effective from June 1. Hill has been chief executive of the listed leasing and capital equipment firm for the past seven years. Eqstra said yesterday Hill believed it was an appropriate time to hand over to new leadership. Eqstra has appointed chief financial officer Jannie Serfontein as interim chief executive and the board would confirm an appointment to fill the position permanently at its next meeting in August. Eqstra chairman Peter Mageza said Serfontein and a strong executive team continued to lead the turnaround coming off the back of a positive set of results. “The board is confident about the future prospects of the diversified group and supports current management to keep this momentum.” Its shares rose 3.2 percent to close at R3.87. – Roy Cokayne