Net1 CFO Alex Smith appointed as interim CEO

Alex will be taking over from exiting Herman Kotzé until a permanent CEO has been appointed.

Net1 CFO Alex Smith has been appointed as interim CEO following the resignation of Herman Kotzé after 22 years with the company. 

Alex has been the CFO, secretary and treasurer of Net1 since 1 March 2018. Prior to joining the company, he was CFO and director of Altron. He has also worked in various positions at PwC in Edinburgh, Scotland and Johannesburg. 

He holds bachelor of law honours degree from the University of Edinburgh and is a member of the Institute of Chartered Accountants of Scotland.

Herman will step down on 30 September 2020, but will continue to provide consulting services to the company until 31 May 2021 to ensure a smooth handover.

About his resignation, Herman said: 

“Following a number of transformational corporate actions over the last year, including the sale of certain material assets and the retirement of all outstanding debt, I believe that Net1 is well placed to pursue a new strategic direction with a strong balance sheet and that it is the appropriate time for me to explore other opportunities. I have spent almost my entire career at Net1 and I am grateful to have worked with so many talented and dedicated employees and to have been part of the company’s incredible journey from its early days as a start-up venture.”

He added that Net1 is an indelible part of his life and wished the group great success with its future endeavors.