AYO TSL CEO resigns, Board restructured

Following the recent announcement of its newly restructured Board, JSE-listed AYO Technology Solutions Limited (AYO), today confirmed its acceptance of the resignation of its chief executive officer and director of AYO, Mr Kevin Hardy.

The current CFO, Ms Naahied Gamieldien, will serve as the acting CEO until further announcement. Ms Gamieldien will retain her position as CFO.

The Board also accepted the resignation of AYO’s Chief Investment Officer, Mr Siphiwe Nodwele and has agreed not to replace this position at this time.

In line with its business strategy, the Board will further strengthen its executive team with the appointment of senior level ICT specialists. The most recent appointment being that of  Mr Zee Gwebu, who has a wealth of ICT experience at a senior level at some of South Africa’s top blue chip companies.

New non-executive chairman of AYO TSL Board, Dr Wallace Mgoqi, reinforced the Board’s commitment to continue to deliver the highest standard of service to its valued clients.

“We have a duty of care to our shareholders. Stringent corporate governance, prudent investments and rigorous criteria for executive performance are critical to AYO’s success”, said Dr Mgoqi. He continued, “The above changes in the AYO executive team indicates just how committed and seriously we take corporate governance, stakeholder engagement and value creation for our shareholders.”

AYO Technology Solutions Limited is one of the largest JSE-listed BEE ICT groups in South Africa.

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