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JOHANNESBURG — Ex-CEO of EOH, Asher Bohbot, is returning to the company on a full-time contract to focus on “strategy and stakeholder management”. This follows what the company says was a six-month sabbatical for Bohbot. EOH says the intention was always for Bohbot to return to the company. For the record, I’ve posted EOH’s announcement in May this year about Bohbot leaving the company in this post below. That announcement in May shocked the market despite EOH’s claims that it had previously mentioned that Bohbot intended to step down. Nevertheless, Bohbot’s return to EOH comes at a time when the company has experienced a plunging share price while also recently being drawn into a police corruption scandal involving Keith Keating. EOH acquired three of Keating’s businesses in November 2015 but cut ties with him at the end of October 2017. EOH told BizNews earlier this week that it only learnt of Keating’s bad behaviour after it unwound itself of his companies — this is despite Bohbot and CFO John King having been listed as directors of Keating’s firms. Meanwhile, John King and his fellow director Jehan Mackay have come under fire this week from analysts and traders over the directors’ margin calls on their EOH shares, with some calling on the company to fire these directors. EOH issued a Sens on Monday in which it blamed last week’s massive sell-off of its stock on these forced sales. Asher Bohbot, 65, throughout this volatile period has retained his shares in the company that he founded. Time will tell if he can help navigate the company, which he founded, out of the mess that it’s managed to entangle itself in. – Gareth van Zyl
His contract does not have a fixed term and is open ended, according to an EOH spokeswoman https://t.co/o8Owp5Qvz4
— Duncan McLeod (@mcleodd) December 13, 2017
EOH CEO appoints Asher Bohbot in a strategic role
13 December, Johannesburg – Zunaid Mayet, CEO of EOH, today announced that EOH founder and former CEO, Asher Bohbot will return to the business on a full-time contract, to focus on strategy and stakeholder management.
Mayet says, “The intention was always that Asher would return at the end of his six month sabbatical, having stepped down as CEO in May this year. Asher brings extensive experience and depth of knowledge to the business, which will be extremely valuable, so I’m most grateful that he’s agreed to join us for a period on a full-time basis.”
The appointment is effective immediately.
EOH Sens statement issued 15 May 2017
CHANGE TO THE BOARD OF DIRECTORS
After a lengthy succession planning process, EOH has adopted the following principles to guide the Group´s leadership and board structures going forward:
- to enhance focus and control, the Group´s divisional structure is to be further strengthened, with each division being led by its own Chief Executive Officer (“CEO”) and Executive Committee team.
- to ensure continuity of the EOH culture, philosophy and value system, it was decided that the successor to the Group CEO is to come from within the current EOH Executive team.
- to enhance the effectiveness of the board of directors of the Company (“the Board”), the divisional CEOs are to join the Board as Executive Directors.
Accordingly, in compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, the Board hereby notifies its shareholders of the following changes to the Board which will take place with immediate effect:
- Mr Asher Bohbot, the founder and CEO of EOH for the past 19 years, will be stepping down. Asher will be leaving at the end of June 2017 and will be taking a six month sabbatical. During this time he will be available in an advisory capacity, following which he will re-join the board as a Non-Executive Director. The Board thanks Mr Bohbot for his vision and leadership in building EOH. We wish him all the best for his well-deserved break and look forward to his continued contribution thereafter.
- Mr Zunaid Mayet has been appointed as the Group CEO. Prior to this appointment, Zunaid was the CEO of the EOH Industrial Technologies division, a business he started six years ago. He joined EOH eight years ago after spending many years with a global technology and engineering group, fulfilling various leadership and executive leadership roles in Europe, Asia and South Africa. Zunaid, who is 50 years old, has an education in software engineering, business administration and executive development. He has a solid track record of leading and growing businesses internationally. The Board wishes Zunaid all the best in his new role.
- Mr Rob Godlonton has been appointed as an Executive Director. Rob has been the CEO of EOH ICT for the past eight years, having joined EOH nine years ago. Prior to joining EOH, Rob worked for large technology organisations in various international roles. He has spent 13 years in the UK, part of that time as a business owner. Rob, who is 51 years old, is a Chartered Management Accountant (UK) and has a BCom degree.
- Mr Johan Van Jaarsveld has been appointed as an Executive Director. Johan has been the CEO of EOH BPO for the past eleven years, a division he started just after joining EOH. Prior to joining EOH, Johan ran his own businesses both locally and internationally. Johan, who is 46 years old, holds a MBL degree.
- Mr Ebrahim Laher has been appointed as an Executive Director. Ebrahim has been the CEO of EOH International for the past three years. Ebrahim joined EOH eight years ago through the merger of a business he owned. A year later he joined the EOH executive team and was responsible for EOH´s drive into enterprise software applications and public services. Ebrahim, who is 43 years old, has a B.Sc. and PDM (business administration) qualification.
- Mr Jehan Mackay has been appointed as an Executive Director. Jehan is the CEO of EOH Public Services and joined EOH following the merger with his IT business that he owned and ran for eleven years. For the past six years Jehan has driven the expansion of EOH into new areas. Jehan, who is 40 years old, has a BA degree.
- Mr Brian Gubbins has been appointed as an Executive Director. Brian has been the Group Business Development Director for the past eleven years. Prior to joining EOH, Brian worked for PWC for ten years in various roles locally and internationally, half of that time as a partner. Before joining EOH, Brian ran his own business for three years. Brian, who is 50 years old, holds a BCom, MBS and a MSc degree.
The Executive team has been together at EOH for many years. The Board has full confidence that this team will successfully take EOH into its next phase of its development.
The following are additional changes to the Board, which come into effect immediately:
- Dr Lynette Moretlo Molefe has been appointed to the Board as a Non-Executive Director. Moretlo is a versatile well qualified entrepreneur and an experienced business executive. Moretlo has a broad knowledge of the telemedicine and mobile health industry, and the technology world in general. She runs her own business and is involved in social entrepreneurship programmes locally and internationally. Moretlo has a BSc and a MB ChB degree. The Board wishes Moretlo all the best in her new role.
- Mrs Jane Retief (née Thomson) has resigned from the Board after serving as an Executive Director for the past 14 years. Jane will continue in a leadership role in the business.
- Mr Dion Ramoo has resigned from the Board after serving as an Executive Director for the past 13 years. Dion will continue in a leadership role in the business.
- Mr Danny Mackay has resigned from the Board after serving as a Non-Executive Director for the past three years.
The Board wishes to thank Jane, Dion and Danny for their participation on the Board and their contribution to the growth and development of EOH.