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World Online chief quits

Johannesburg, 07 Apr 2003

Tiscali World Online MD Graeme Victor has resigned to "pursue personal interests".

The company, an and cellular services provider, is a wholly owned subsidiary of Paris- and Milan-listed Tiscali International.

A company spokesman says Victor has not yet been replaced, but in the interim an executive committee will oversee the business.

"In the past, each general manager of a business unit would run his own division," she says. "That will continue, but they will be overseen by an exco made up of four people, each from a different area of the business."

She says this arrangement is a short-term one and Victor will "in all likelihood" be replaced later.

The company says Victor achieved all his objectives at the group and felt he needed to take a break and "look at his options".

Victor, who headed the company for two years, says: "Over the past two years Tiscali has managed to build a solid business and today it is one of the top three ISPs in SA.

"I am happy in knowing that I have achieved the objectives I set out at the beginning of my journey, and am proud that I could form part of Tiscali`s success."

Tiscali International founder and CEO Renato Soru says he is upset to see Victor leave, as he has been an to the South African operation. "We are, however, looking at ways in which to move forward, and will continue to provide holistic communication solutions to the country."

The company has been owned by Tiscali since January last year when the European group bought Vodacom`s 40% stake. While no amount was disclosed, it is believed that Tiscali paid about R30 million.

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