Kunene Technology Limited (KTL) CEO Tony Leng has resigned after 17 months in the post.
A brief statement from the company says only that Leng "will be pursuing his own interests" and has also resigned as non-executive director of Grintek, the JSE-listed electronics company in which Kunene has a 47% stake.
Kunene Technology director Dr Dudu Kunene says that Leng`s departure was an amicable one.
He stepped down merely to pursue his own interests and the resignation was unrelated to the restructuring process at KTL, he adds. Kunene says he does not know where Leng will be going.
Leng is a former Telkom managing executive.
Kunene says that the restructuring process at Kunene Technology is being driven by Kunene Brothers Holdings, and Leng`s resignation will not affect this.
Kunene Technology`s restructuring programme included repositioning subsidiary Siltek as a major player in the IT supply chain, a process which began a year ago and has been completed. Leng was seconded to Siltek to help with the repositioning and for the past six months was involved in the disposal of the company`s non-core assets.
KTL says it has also begun unlocking shareholder value at Grintek.
"A new CEO will not be appointed until the programme and its possible impact on KTL has been determined," KTL says.
Kunene adds that an acting CEO will also not be appointed, but Kunene Brothers Holdings will manage affairs in line with its policy of active ownership.
Leng could not be reached for comment.
The share prices of all three KTL companies were unchanged by late Wednesday morning.
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