Curro yesterday announced two key executive appointments, which Curro chief executive Andries Greyling said was vital to strengthen the management team as the independent education provider continues its aggressive expansion plan.
Curro chief executive Andries Greyling said yesterday that the group has identified several opportunities to expand organically and by way of acquisition.
“With this expansion, the focus on specific avenues has become more apparent and the need arose to further strengthen the executive team,” Greyling said.
Curro Holdings has promoted its current chief financial officer (CFO) Bernardt van der Linde to the role of executive: business operations to lead the independent education provider in its growth initiatives.
Curro has also appointed chief executive of the Holdsport group, Cobus Loubser, as Van der Linde’s successor as CFO, effective January 2021.
The announcement comes after Curro announced last week its intention to raise up to R1.5 billion through a rights offer with an aim of reducing its debt levels and for potential acquisitions.
The group said the rationale behind the rights offer was to raise additional capital for potential opportunities that had presented themselves in the current market and proactively reduce the gearing levels of the company due to uncertainty created by the Covid-19 pandemic.
The group said Van der Linde had represented Curro on various boards and industry bodies as the CFO and under his leadership, Curro established its DigiEd schools model in Cape Town and Gauteng, where teachers and tutors provide one-on-one assistance to learners through classroom-based e-learning tools in videos, as well as the recently launched Curro Online, a fully online-based school curriculum for learners from Grade 4 to Grade 9.
Loubser has been chief executive of Holdsport since 2018 and a CFO from 2007.
Curro's share price closed 1.02percent higher at R8.88 on the JSE yesterday.