Y2KTec CEO Russel Roth has resigned, but says he is "not leaving the company in the lurch".
Y2KTec issued a brief statement this afternoon saying only that Roth, "director of Y2KTec Limited, has resigned as at 24 January 2001".
Roth stepped into the CEO post in March last year after the previous incumbent, David Black, was ousted.
An acrimonious legal battle between the Y2KTec board and Black was settled last September after both parties agreed to withdraw their accusations against each other.
The company`s results for the six months to 31 August 2000 showed a return to profit, with a R922 391 net profit before tax, compared with a year-earlier loss of R22 882 and a year-end loss of R3.34 million.
Roth is reluctant to disclose his reasons for resigning.
"I am sticking around until they find a replacement," he said this afternoon. "I am not leaving them in the lurch."
The Y2KTec share was trading 1c up at 3c by late afternoon.
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