Caxton MD steps down: report
·30 Mar 2014
According to a Sunday Times report, Caxton MD, Gordon Utian has stepped down from his position, having “decided to retire”.
“Gordon is 68, and we have to do succession planning. There’s nothing salacious about it from my perspective,” said Caxton chairman Paul Jenkins.
CEO Terry Moolman, aged 70, has no plans to leave the group. He and his business partner Noel Coburn have an effective 51% control in Caxton.
“Terry’s even older, but he’s the owner, [and] owners have some other kind of barometer for when they step down,” said Jenkins.
The Sunday paper noted that despite being listed on the JSE, Caxton has issued no formal announcement on Utian’s departure to investors.
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