Technology group Pinnacle Holdings has announced a management shake-up that will see Pierre Spies elevated to the position of joint CEO from 1 January 2016, alongside incumbent CEO Arnold Fourie, with Fourie to step down in the middle of next year to become nonexecutive chairman.

Spies, who was named as deputy CEO of the group in March 2015, will assume responsibility for the ICT distribution, financial services and certain corporate divisions within Pinnacle, the group said in a statement to shareholders on Friday morning.

“Spies will be supported by Tim Humphreys-Davies and Craig Brunsden, who will be appointed as the MDs of the two major ICT distribution subsidiaries, Pinnacle Africa and AxizWorkgroup respectively,” Pinnacle said.

Henry Ferreira, who is currently CEO of Pinnacle Africa, will assume responsibility for the new emerging technologies and systems integration businesses within the Pinnacle stable.

Jenny Gill will continue in her role as the CEO of Centrafin, the financial services subsidiary.

All appointments are effective 1 January 2016.

Fourie will continue as joint CEO of Pinnacle Holdings until 30 June 2016.

“After discussions with Fourie, the board is pleased to announce that [he] has agreed to accept the role of nonexecutive chairman of the group effective 1 July 2016. In his new role, [he] will guide the group’s strategy with a particular focus on new growth initiatives.”