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Datacentrix chair steps down

Datacentrix outgoing chairperson Gary Morolo

8th November 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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Gary Morolo has resigned as chairperson and director of JSE-listed Datacentrix with immediate effect.

Datacentrix, in a statement to shareholders on Friday, said that, following the introduction of a new significant shareholder, Morolo aimed “to make way for new leadership to be put in place by the board”.

This followed the successful takeover of about 35% of the integrated information and communication technology group by fellow JSE-listed technology group Pinnacle last month.

Pinnacle, in June, announced its intention to buy out the R267-million stake that would give it “material influence over shareholders' votes” and, therefore, control over Datacentrix.

The Competition Commission noted that the proposed takeover remained hostile, as the board of Datacentrix had not recommended the offer by Pinnacle to its shareholders.

The deal was approved with conditions, to which Pinnacle agreed, that would prevent the technology company from disclosing commercially sensitive customer information to Datacentrix.

Lead independent nonexecutive director Pete Backwell would step in as interim chair while the group sought a replacement for Morolo.

“The board wishes to express its sincere gratitude to Morolo for his services and leadership to the board since his appointment in August 1998, and wishes him well going forward,” the company said.

Edited by Creamer Media Reporter

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