Embattled Faritec yesterday told the market that deputy CEO Hasmukh Gajjar quit last month.
Faritec, which is trying to raise R60 million and sell off assets it considers non-core, has had several top-level resignations recently. No reasons for the latest resignation were given, although Faritec's board wished Gajjar well, and thanked him for his contribution.
Gajjar became deputy CEO in March 2004, after being appointed to the company's board in the previous year. His initial appointment followed the empowerment transaction Faritec concluded in April 2003 with a consortium led by the J&J Group and union investment company Lesaka Holdings.
As deputy CEO, his role was to focus on developing the black economic empowerment and transformation framework for Faritec, as well as assist in developing new business offerings and grow the company's client base.
Gajjar had previously held the position of president of the Black Business Council and Black IT Forum, as well as being a member of the ICT charter task team and holding various roles in many other ICT forums and bodies.
His resignation follows Peter Winn's resignation last month. Winn, who was Faritec's executive director of services, subsequently put in an offer to buy out the managed services division for R3.1 million, ITWeb revealed last week.
Last year, the company lost FD Tshidi Nyembe, who quit in April. Nyembe's resignation was followed by that of CEO Simon Tomlinson.
J&J founder Jayendra Naidoo also resigned as Faritec non-executive director, while chairman Chris Jardine chose not to stand for re-election when the company had its annual general meeting recently.
Mncedisi Mayekiso, who was a non-executive director, did not stand for re-election either, after his appointment as SAP's marketing director for Africa.
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