In a statement on the JSE news service, Phumelela said that Du Plessis had resigned for personal reasons.
“Rian has full confidence in the company’s executive management team, underlying business fundamentals and strategic direction,” reads the statement.
And as a further vote of confidence in the future success of Phumelela, Du Plessis has given the assurance that he will not consider disposing of any Phumelela shares held directly or indirectly by him, his family or otherwise in the foreseeable future.
Stepping in to take over the reins from Du Plessis is John Stuart, International Executive Director of Phumelela.
Stuart served his articles with KPMG before joining TAB KwaZulu-Natal in 1979 as Internal Auditor, and occupied various positions there before leaving in 1996 as Assistant General Manager. He then joined TAB Transvaal (transferred to Phumelela as part of the corporatisation process) in 1997 and served in various positions before heading up the international division in 2006. John also heads up the Tellytrack operation on behalf of the Tellytrack partnership.
He is also Executive Director of Premier Gateway International.
“With more than 39 years of experience in the horseracing and gaming industry, the Board welcomes John’s increased participation in the business and looks forward to his ongoing contribution.”
According to the statement, Du Plessis has also committed himself to assist his successor until the end of March 2019 to ensure a smooth transition.
“The Board and management team would like to thank Rian for his valued service and contribution to the company over the past 10 years. He led the development of a sophisticated business with multiple revenue streams and has formed a management team supporting long term stability and growth,” reads the statement.
“The Company’s financial results announcement scheduled for 5 October 2018 will be delivered by the new CEO.”
