Vox Telecoms' joint CEOs, Angus MacRobert and Douglas Reed, have stepped down and handed the reigns to Jacques du Toit, as the company goes through a consolidation phase.
MacRobert, who was previously Internet Solutions' CEO, joined Vox in 2011 after the company was offered a R499 million buyout from the Lereko Metier Capital Growth Fund and Investec Bank, which led to it being delisted.
MacRobert says he has stepped down to focus on his other investments, and make further investments, which he was not allowed to do due to the structure of the deal. He will retain his stake in Vox, but will not serve the company in either an executive or non-executive capacity.
Reed will stay on with the company in a strategic position, he says. He notes that Vox has been combining its business units, a process that is almost complete.
Du Toit's promotion to CEO, from being MD of Vox Orion, makes sense, says Reed. He adds that Vox is young and energetic, and that Reed has been with the company for 12 years.
Du Toit says his promotion is a great opportunity, and the key focus now is to wrap up the consolidation of the company's brands. Vox is merging all its units, with the exception of @lantic, into one.
Previously, the company used to compete through several brands, such as Vox Orion, Vox Datapro, Vox Amvia, @lantic, Vox Telepreneur and Vox Pureview. "Everything will end up being one," says Du Toit.
Du Toit adds that the company will continue innovating and launching new products, and the management team will remain in place. "We're not going to take the foot off the petrol."
Share