JSE-listed private hospital group Life Healthcare is searching for a new chief executive to take over the reins from Shrey Viranna, who announced on Friday that he is stepping down with immediate effect after almost two years on the job.  Picture: African News Agency (ANA)
JSE-listed private hospital group Life Healthcare is searching for a new chief executive to take over the reins from Shrey Viranna, who announced on Friday that he is stepping down with immediate effect after almost two years on the job. Picture: African News Agency (ANA)

Life Healthcare seeks new CEO to take the helm after resignation

By Sandile Mchunu Time of article published Jan 20, 2020

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DURBAN - JSE-listed private hospital group Life Healthcare is searching for a new chief executive to take over the reins from Shrey Viranna, who announced on Friday that he is stepping down with immediate effect after almost two years on the job.

Viranna, who was appointed in February 2018, led a successful disposal of the 49.7percent stake in Max Healthcare in India last year to Radiant Life Care, with the group pocketing R1.5billion in profit.

Proceeds from the sale of Max Healthcare were used to settle debt.

The group said Viranna would also step down as an executive director of the board and its related subsidiaries. He was emigrating to Australia for personal and family reasons.

The group has appointed Pieter van der Westhuizen, the current chief financial officer (CFO), as interim chief executive.

“Pieter van der Westhuizen will also retain his role as CFO, supported by the company’s highly capable finance function. Pieter has been with Life Healthcare for 20 years, the last five as group CFO. Dr Viranna will remain with the company as a special adviser until February 29 to provide continuity,” the group said.

Mustaq Brey, chairperson of Life Healthcare, said:“Pieter has vast experience of the industry and Life Healthcare and, having also previously acted as chief executive, will provide immediate strategic, operational and leadership continuity for the business as they start the new year.”

Viranna said it had been a privilege to lead the company for the past two years and was leaving the group with great sadness.

“Together with the encouragement of the board and the unwavering support of the executive management team, we have taken critical steps to transform the business, making decisions to ensure the group’s sustainability, and long-term success. My departure is a difficult but very personal decision, and I leave the company with great sadness,” he said.

Life Healthcare closed 0.24percent higher at R25.20 on Friday.

BUSINESS REPORT 

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