{"id":176501,"date":"2017-05-25T08:08:45","date_gmt":"2017-05-25T06:08:45","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=176501"},"modified":"2017-05-25T08:08:45","modified_gmt":"2017-05-25T06:08:45","slug":"net1-ceo-to-retire-after-state-grant-controversy","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/176501\/net1-ceo-to-retire-after-state-grant-controversy\/","title":{"rendered":"Net1 CEO to retire after state grant controversy"},"content":{"rendered":"<p>Net1 have announced that company founder, Serge Belamant, will retire from his position of CEO and a director of the company at the end of May following the controversy over its state grant contract.<\/p>\n<p>Current chief financial officer, Herman Kotz\u00e9, has been appointed as the new CEO,<br \/>\neffective on June 1, 2017.<\/p>\n<p>Net1 said that Belamant was due to retire at age 65 in 2018. &#8220;However<br \/>\nto facilitate changes to the company\u2019s operating and management structures and also<br \/>\nnoting the views expressed by certain of the company\u2019s shareholders, the board and<br \/>\nMr. Belamant agreed on an earlier retirement date of May 31, 2017,&#8221; it said in a statement.<\/p>\n<p>Belamant will provide consulting services to the company for a two-year<br \/>\nperiod after his retirement.<\/p>\n<p>Kotz\u00e9 has been with Net1 for in excess of 18 years and has been its CFO since 2004.<\/p>\n<p>&#8220;The board has initiated a search for a new chief financial officer. Until a new<br \/>\nappointment is made, Mr. Kotz\u00e9 will serve as both chief executive officer and chief<br \/>\nfinancial officer.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/business\/165075\/net1-faces-shareholder-revolt-over-grants-crisis\/\" target=\"_blank\" rel=\"noopener noreferrer\">Net1 faces shareholder revolt over grants crisis<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Net1 have announced that company founder, Serge Belamant, will retire from his position of CEO and a director of the company.<\/p>\n","protected":false},"author":10,"featured_media":19012,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[25,3714],"class_list":["post-176501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-active","tag-net1"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/176501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=176501"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/176501\/revisions"}],"predecessor-version":[{"id":176503,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/176501\/revisions\/176503"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/19012"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=176501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=176501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=176501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}