The Infowave board has approved a change in the role of its chairman, Ralph Collis, who moved into a non-executive role from this morning.
Infowave is the holding company for various IT service providers that specialise in software solutions using Oracle and Java technology.
It has two main focus areas, the first being the sugar industry, for which it has many tailor-made solutions. The second area is the development of custom-built solutions for any other industry sector.
The group says the change is in line with its commitment to complying with the guidelines of the King II corporate governance report.
It says that, as non-executive chairman, Collis will maintain a close association with the executive team to contribute to the black empowerment transformation process and the group`s growth.
InfoWave recently reported a 17% fall in profit for the year to end-February.
As a result, the board decided not to award bonuses and also deferred annual increases.
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