JOHANNESBURG - Technology group EOH said on Friday it had appointed chief risk officer Fatima Newman as an executive director with effect from 1 August.
In a statement, EOH chairman Dr Xolani Mkhwanazi said Newman was bringing 25 years of experience as a strategic leader of risk, compliance, regulatory and governance oversight in banking and financial services, stockbroking, asset management and corporate finance.
Prior to joining EOH, Newman was employed as the executive for business risk management and compliance at mobile communications company MTN.
She joined the EOH management team and executive committee on 1 April and played a meaningful role in a forensic investigation lead by ENSAfrica.
The ENSafrica probe found evidence of serious governance failings and wrongdoing, including unsubstantiated payments, tender irregularities and other unethical business dealings.
"I am very pleased that Fatima is joining the board as her skillset and uncompromising commitment to good governance will complement to the recent appointments of Andrew Mthembu, Michael Bosman and Anushka Bogdanov as independent non-executive directors," Mkhwanazi said.
On Thursday, EOH said trading conditions remained under pressure due to the weak macro environment in addition to the negative impact from governance failings at the company.
EOH said there had been some improvement following the release of an interim update from ENS as clients resumed business with the group, but added that the benefits would not be realised until after year end.
EOH will publish its full year results on October 15 and also provide a strategic update as well as an update on the status of the ENS forensic investigation.