Beleaguered Faritec has appointed a financial director, Arvind Kumar Gupta, replacing Tshidi Nyembe, who quit in April.
Nyembe's resignation was followed by the resignation of CEO Simon Tomlinson as the company's financial future came under scrutiny.
The group has since received a cash injection of R29 million from Shoden Data Systems in return for a majority stake, as well as raising R20 million through placing shares with shareholders.
On Friday, the group said Gupta had been appointed as financial director with effect from August. Faritec did not provide further details about Gupta.
In April, the listed company said Nyembe had resigned to “pursue other career interests”.
Nyembe joined Faritec in 2005, having come from state transport utility Transnet, where she was the assistant GM of finance. At the time, her role as CFO at Faritec was criticised as an ornamental empowerment appointment, allegations which were brushed off by industry specialists and the company.
At the time of her appointment, she represented one of two black female financial directors on the board of a listed company, the other being Harmony Gold's Nomfundo Qangule, who left the mining house in 2007.
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