Financially distressed technology services company Gijima has appointed Bill Hoggarth, who was named as its chief sales officer in May, to its board of directors.
Gijima, which is currently seeking to raise R100m from shareholders through a new rights offer, says Hoggarth’s appointment as an executive director is with immediate effect.
The JSE-listed company’s chairman and largest shareholder, Robert Gumede, says in a statement that Hoggarth’s appointment to the board will be a “strong asset” as it pursues its turnaround strategy.
“Hoggarth has extensive experience in the ICT industry and with corporate turnarounds, and considerable international experience,” the company says.
He joined Gijima from Dataways, a business intelligence product and services company he co-founded in 2012. He has lived and worked in several countries across Europe and the Middle East and worked for Business Objects, Siebel and SAS in leadership positions.
Gijima says that the in the past 12 months, it has concluded contract renewals to the value of R1,6bn, but emphasises the turnaround strategy has a long way to go still.
Its share price was trading at 26c on Monday morning. The counter has lost 72% in the past 12 months, making it one of the worst performers on the JSE. Its market capitalisation has fallen to just R52m. — © 2014 NewsCentral Media
