Outgoing 4AX CEO Fay Mukaddam
South African exchange 4 Africa Exchange (4AX) has appointed credit marketplace RainFin CEO Sean Emery as its interim CEO, while outgoing CEO Fay Mukaddam finds a suitable successor as part of a six-month succession handover plan.
Mukaddam will remain an active shareholder in 4AX and will continue to support the business operations in other positions.
“After more than a year of successful operations, a base of five listed companies and a total market capitalisation of just under R7-billion, I feel I have achieved my initial goal and 4AX is at an exciting new juncture,” she said.
4AX began trading on September 28, 2017.
Mukaddam will be taking a sabbatical in anticipation of focusing on special projects and her independent adviser and nonexecutive board appointments.