Company Announcement - South Africa’s largest ITC Distribution Group, Pinnacle Holdings is pleased to make a number of key strategic announcements regarding the structure of its Executive Management team including changes in the functions of directors and the composition of the board.  On 1 January 2016, Mr Pierre Spies – who has been serving as Deputy CEO and working closely with Pinnacle Holdings CEO Mr Arnold Fourie since March 2015 – will be assuming the role of Joint CEO. Spies will assume responsibility for ICT Distribution, Financial Services and certain Corporate Divisions within the Pinnacle Group.

Mr Fourie will continue as the Joint CEO of Pinnacle Holdings until 30 June 2016 at which point he will be stepping down and handing the full reigns over to Spies. “It is with pleasure and optimism that I would like to announce the upcoming strategic changes we’ll be making within the Pinnacle Holdings Directorate,” Fourie said. “Our continued growth and the fast paced changes within the industry mean that we always need to remain on our toes and ready to make the necessary changes in order to remain on top of the game,” he continued. “Pinnacle Holdings has, over the past 22 years, grown into powerful force and a leader in the industry – a good organisation, with many firsts in its trophy cabinet. In order to keep growing and reach new heights, we need new energy, ideas and management styles and we are ready to make the necessary changes”.

Spies will be supported by Mr Tim Humphreys-Davies and Mr Craig Brunsden, who will be appointed as the Managing Directors of the two major ICT Distribution subsidiaries, Pinnacle Africa and AxizWorkgroup respectively. Both Humphreys-Davies and Brunsden have many years’ experience within their respective subsidiaries and Fourie reiterated that he had no doubt that they will continue to lead these companies from strength to strength.

Henry Ferreira, who is currently the CEO of Pinnacle Africa, will assume responsibility for the new emerging technologies and systems integration businesses within the Pinnacle Group. Ferreira is an industry veteran who played a key role in positioning firstly AxizWorkgroup and more recently Pinnacle Africa as the dominant role players in the industry. “His exceptional management skills, considerable expertise, industry knowhow and vast network are exactly what we need to find new technology opportunities for the Group and facilitate continued growth,” Fourie added.

Jenny Gill will continue in her role as the CEO of Centrafin – the financial services subsidiary within the Pinnacle Holdings Group.

While Fourie will be stepping down as CEO, he will not be stepping away from the Group entirely. Fourie has accepted the role of Non-Executive Chairman of the Group effective 1 July 2016 and looks forward to focusing on new and fresh growth initiatives for the Group stating that he will be guiding the Group’s strategy with a particular focus on new growth initiatives.

Fourie concluded saying, “Our commitment to the growth of each of our customers’ businesses as well as the continuous efforts to effectively distribute the products and solutions of our suppliers also remains resolute and I am very pleased with the way we are moving forward. We’re embarking on a very exciting time for our business as we continue to position ourselves as a leading ITC distribution Group on the African continent”.