AYO Technology Solutions has moved swiftly by appointing Naahied Gamieldien as an acting chief executive following the departure of Kevin Hardy. File Image: IOL
JOHANNESBURG - Information and communications technology (ICT) company AYO Technology Solutions has moved swiftly by appointing Naahied Gamieldien as an acting chief executive following the departure of chief executive Kevin Hardy with immediate effect.

Gamieldien is also the current chief financial officer (CFO) of AYO and she will continue acting as the chief executive until a further notice from the group.

AYO Technology is one of the largest JSE-listed black economic empowerment ICT groups in South Africa.

It was listed in December last year on the JSE and immediately it has set its sights at capturing more than 5percent of the ICT market share within five years.

On Friday the group also announced the resignation of chief investment officer Siphiwe Nodwele.

“The board also accepted the resignation of AYO’s chief investment officer, Siphiwe Nodwele and has agreed not to replace this position at this time,” the group said.

AYO’s share price jumped by 7.69percent on the JSE to close at R28 on Friday, gaining two days in succession after it closed 4percent higher the previous day.Newly appointed non-executive chairman Dr Wallace Mgoqi said the changes in the AYO executive team indicated just how committed and seriously the group takes corporate governance, stakeholder engagement and value creation for its shareholders.

“We have a duty of care to our shareholders. Stringent corporate governance, prudent investments and rigorous criteria for executive performance are critical to AYO’s success,” Dr Mgoqi said.

He reinforced the board’s commitment to continue to deliver the highest standard of service to its valued clients.

Going forward and in line with its business strategy, the board will further strengthen its executive team with the appointment of senior level ICT specialists.

“The most recent appointment being that of Zee Gwebu, who has a wealth of ICT experience at a senior level at some of South Africa’s top blue chip companies,” the group said.

Dr Mgoqi joined the group early last week to strengthen the independence and governance structures of the board.

He was joined to the board by Dennis George, Sello Rasethaba and Rosemary Mosia as independent non-executive directors to the board after its engagement with its shareholders. The new directors were added after the resignation of Khalid Abdulla, Walter Madzonga, Telang Nasasa and Mbuso Khoza last week.

AYO currently services customers in southern and northern Africa, Europe and Mauritius.

-BUSINESS REPORT