Group Five has announced the resignation of CEO Themba Mosai as of the end of January
On Friday, financially troubled construction and engineering company Group Five announced the resignation of their chief executive Themba Mosai as of the end of January.
No explanation for his resignation was given.
The board and management team thanked Themba for his valuable contribution and dedication during the 15 years of service with the group.
His resignation follows CFO Christina Teixeira’s resignation in December. She stated that she was leaving to pursue a different career.
Themba was appointed as interim CEO in March 2017 and promoted to permanent CEO in May 2017.
Group Five’s board has commenced a search for a new CEO and appointed non-executive director Thabo Kgogo as interim CEO.
The Group said that Thabo has good knowledge of the group and comes with a wealth of experience as chief executive and in capital projects implementation.
They also added that they are currently undergoing significant restructuring and resizing, for a future focus on developments, investments and concessions.