To view the PDF file, sign up for a MySharenet subscription.

ADAPT IT HOLDINGS LIMITED - Voluntary Appointment of Lead Independent Director

Release Date: 14/10/2019 13:15
Code(s): ADI     PDF:  
Wrap Text
Voluntary Appointment of Lead Independent Director

Adapt IT Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1998/017276/06)
Share code: ADI   ISIN: ZAE000113163
(“Adapt IT” or “the Company”)


VOLUNTARY APPOINTMENT OF LEAD INDEPENDENT DIRECTOR


The board of directors of Adapt IT (“Board”) is pleased to announce the voluntary appointment of
Mr Oliver Fortuin, currently an independent non-executive director, as the lead independent
director of the Company with immediate effect.

The appointment of the lead independent director is in compliance with the recommendation of
the King IV Report on Corporate Governance for South Africa which states that a lead
independent director should be appointed to, inter alia, lead in the absence of the chairperson or
to chair discussions and decision-making by the governing body on matters where the
chairperson has a conflict of interest.

Oliver has in excess of 27 years’ experience in the technology industry, having held various
leadership positions in the ICT sector. Having been with the IBM Corporation for over 17 years,
Oliver held various executive positions including General Manager of the IBM PC business for
Africa as well as General Manager of IBM South Africa and sub-Saharan Africa. Oliver was a
Hewlett Packard South Africa Director for HP Services, and headed HP’s Technology Services
group (TSG) and also served as Managing Director of Hewlett Packard South Africa. Oliver is the
former Managing Director of i1 Solutions (a privately owned technology company) and has been
director and Lead Independent non-executive director for the Ellies Holdings since April 2011. In
May 2014, Oliver was appointed Managing Director of British Telecommunications sub-Saharan
Africa (BT). In February 2017, Oliver left BT to join MTN, where he assumed the position of
Executive Head of Business Enterprise, effective 1 March 2017.

Having a person with close to three decades of experience in the ICT sector is a huge advantage
to the Board. Oliver gained this experience working in large, global, reputable ICT firms and his
deep expertise assists fellow Board members to understand nuances of the sector. His African
and global expertise are also highly valuable.


Johannesburg
14 October 2019

Sponsor
Merchantec Capital

Date: 14/10/2019 01:15:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story