Dan McMahon has resigned from the MGX board following his acquisition of MGX Storage Solutions.
MGX announced last month that it had sold Storage Solutions and Professional Services to McMahon`s wholly owned company, King-At-Arms Holdings, for R1 each. McMahon was Storage Solutions` CEO.
The disposals were part of MGX`s recovery plan aimed at returning the group to profitability.
The group issued a statement at the weekend saying that until its restructuring has been completed it will not appoint a head office CEO.
MGX now has two executive directors and three non-executive directors, two of whom are independent. It says talks aimed at appointing another independent director are underway.
McMahon joined MGX in 1998 when the group acquired data storage solutions company CMS, of which he was MD.
He was appointed chief operating officer in mid-1999 and after MGX acquired CCH in 2000, he was named to head MGX`s enterprise solutions and services division. The group`s other division, business solutions, was headed by former CCH CEO Aletha Ling, who left MGX earlier this year.
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