Marialet Greeff, who was appointed as chief financial officer of EOH Holdings in February, has resigned. She will conclude her duties by September.

“Greeff has notified EOH of her decision to resign from her position as the group chief financial officer of EOH, with effect from 30 September 2024, to pursue other interests,” EOH said in a brief statement to investors on Tuesday. Before her appointment as permanent CFO in February, she had been serving in the role on an interim basis since last November following the resignation of Megan Pydigadu.

“The board of directors has started a process to identify an appropriate replacement. Shareholders will be advised on the appointment of a new group finance director in due course,” it said.

EOH, which has seen significant changes at board and senior management level since the retirement of CEO Stephen van Coller in March, emphasised to investors that its finance team “comprises experienced and dedicated professionals who are well-versed in the financial operations and procedures of EOH”.

It said Greeff will work alongside the team to “facilitate a seamless continuity of the financial function and group leadership during this interim period”. It did not say why she had decided to resign after such a short stint in the role.

The news of Greeff’s resignation comes barely more than a week after EOH announced that interim CEO Andrew Mthembu would step down from that role – and from the board, where he served as chairman – to be replaced, also in on an interim basis, by Marius de la Rey, the CEO of the group’s largest operating subsidiary, iOCO.

Mthembu had been appointed as interim CEO on 1 April following the departure of Van Coller, who had led a governance clean-up at the group, which had become ensnared in several corruption scandals involving public sector contracts.

Succession plan

On 10 May, some six weeks after Van Coller’s exit, EOH said it had been approached by “certain shareholders” regarding a “succession plan for the EOH board”.

Then, earlier this month, it said its board had “evaluated the proposal received from shareholders requesting changes to the board”. As a result, it agreed that:

Mthembu would resign as a director of EOH and its subsidiaries, as well as from his position as executive chairman and interim CEO. He would be replaced as board chairman by non-independent director Jabu Moleketi;
Fatima Newman, who worked closely with Van Coller in dealing with the governance failings at EOH, would step down as an executive director but would stay on in her role as CEO of EOH-owned EasyHQ; and
Bharti Harie would resign as independent non-executive director.

At the same time: