EOH shareholders approach board over succession plan

said on Friday that it has been approached by “certain shareholders” regarding a “succession plan for the EOH board”.

It advised shareholders that they should exercise caution when dealing in EOH shares while it engages further with the unnamed shareholders.Friday’s cautionary notice to shareholders comes just six weeks after the exit of CEO Stephen van Coller Earlier in the day, EOH announced that independent non-executive director Jesmane Boggenpoel had resigned with immediate effect. It didn’t say why she was leaving.

Friday’s cautionary notice to shareholders comes just six weeks after the exit of CEO Stephen van Coller, who had led a turnaround effort at the IT services group after it became embroiled in a series of public sector corruption scandals. EOH chairman Andrew Mthembu stepped in as interim CEO on 1 April, pending the appointment of a full-time executive to replace Van Coller. At the time, EOH said Mthembu would be in the hot seat for up to six months, after which he would return to a non-executive role.

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