The CEO of ADvTECH, Roy Douglas, will step down at the end of February 2024.
According to a statement, Douglas will retire, and Geoff Whyte will succeed him as the new CEO of the JSE-listed private education group.
“Douglas will remain with the group for a suitable period after he steps off the board to ensure a seamless handover. He has successfully led the group in its expansion strategy during his tenure, resulting in ADvTECH becoming the leading private education and recruitment group across the continent.”
The company praised Douglas for his leadership through the pandemic by commended him for “remaining responsive to a dynamic environment, where more than 70,000 students were seamlessly transitioned to an online environment”.
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The share price was not negatively impacted by the decision, and by 4pm ADvTECH stock was trading at R24.46.
Over the last year, the stock has been up by 33.89%.
GEOFF WHYTE
On the credentials of Whyte, the company statement noted that “he is a commercially focused business leader with executive experience in global organisations including Unilever, PepsiCo, Cadbury-Schweppes, SABMiller, and Nando’s”.
“Whyte has a record of success in a wide variety of geographies, including South Africa, the UK, the USA, Holland, the rest of Africa, the Middle East, and sub-continental India.”
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