Eileen Wilton, Gijima’s long-serving interim CEO, has been named to the position on a permanent basis by the troubled IT company’s board of directors.
Wilton, who previously held the position of chief information officer at both Old Mutual and Anglo American, was acting CEO for the past year, following the resignation of Jonas Bogoshi. With chairman Robert Gumede, she has led Gijima’s turnaround strategy, including a rights offer to raise R150m in cash.
“She has reviewed various key projects, implemented a savings programme, led the successful R150m rights offer and has implemented a revised operating model,” Gijima says in a statement to its shareholders. “Her interaction with shareholders, clients and staff created a sense of comfort and stability.”
According to the board, Wilton has “proved herself as a dedicated, transparent, honest and decisive CEO.”
At the same time, Gumede has resumed executive duties as chairman after filling the role in a nonexecutive capacity since 2008.
“The Gijima board has for some time been trying to persuade … Gumede to revert to the executive chairman role because of the challenges that the company has faced since 2010/2011,” the statement to shareholders reads.
“He has been involved in the rights offer and invested R75m (50% of the R150m rights offer). Gumede has been working very closely with Wilton in the turnaround of Gijima. The board has now succeeded in persuading Gumede to again become executive chairman until such time that the company turnaround is bedded down and Gijima is back to the glory days.”
The company must still fill the role left vacant by the resignation of chief financial officer Carlos Ferreira in July. It is also looking for a group sales director.
Gijima was trading unchanged at 88c/share on the JSE shortly after the appointments were announced. The counter has lost 90% of its value in the past 12 months. — (c) 2013 NewsCentral Media
