Cheryl-Jane will be taking over from Innocent Dutiro, who has resigned to pursue other interests.
On Wednesday, 9 October, Adcorp announced that its CFO Cheryl-Jane Kujenga will serve as interim CEO after the resignation of Innocent Dutiro as of 8 October.
In the statement, Adcorp expressed their confidence in Cheryl-Jane, saying that her leadership and guidance in the interim period will “continue to assist the group to deliver on its business plan in upcoming months”.
Cheryl-Jane was a partner at EY for nine years before joining Adcorp. She had a dual role at EY as an assurance partner and the strategic growth markets leader for Africa. She served on the Accounting Standards Board, South Africa, for six years.
She was recently recognised by the African Women of Chartered Accountants (AWCA) organisation as the CFO of the year in the private sector.
The Adcorp board also announced its plans for the interim period, saying it is actively responding to the poor trading statement it recently released.
Among the corrective measures Adcorp plans to put in place, is the immediate search for a substantive CEO that will assist the group with its next chapter.
It said that the key considerations would be a leader with strong service operational experience, with an emphasis on a strong people culture and a client focus.
Other corrective measures include:
- Reviewing the group’s strategy to ensure that focus is placed on the core competencies of the group, namely temporary employment services (including functional outsourcing), IT resourcing, business process outsourcing and training.
- Reviewing the current group initiatives, with a view to prioritise them and ensure that the group is not trying to do too many things concurrently.
- Reviewing the level of relevant industry experience at both management and board level, and plan to bring in strategic skills that will be complimentary for the group.