Dave Vink, who stepped in as CS Holdings` (CSH`s) acting CEO after Annette van der Laan quit earlier this year, has resigned from the group.
The company has issued a notice saying only that Vink had resigned as executive director and acting CEO with effect from 15 December.
A CSH staff member says Vink`s farewell party was held on Wednesday and he will not be returning to the company. She says the CSH operation now reports to Bytes Technology Group.
CSH is expected to be delisted next month, following its acquisition by Bytes.
As shareholders owning almost 99% of CSH have accepted Byte`s offer for the company, Bytes has invoked section 440K(1) (a) of the Companies Act, giving it the right to acquire compulsorily the shares of those shareholders who did not accept the offer.
Van der Laan left CS Holdings in February amid controversy over the accounting treatment of the disposal of a business and subsequent reversal of the deal.
Although an internal investigation cleared her of wrongdoing, she said she was resigning in the interests of the company and as a result of the negative publicity around the issue.
The subsequent fall in the CSH share price brought a queue of companies looking to buy the company, but after several decided not to make an offer, Bytes emerged as the preferred bidder.
As a result of the acquisition, the group announced last month that Thuli Zuma had stepped down as non-executive director and had been replaced by Bytes CEO David Redshaw. Non-executive director Litha Nyhonyha had also resigned, along with alternative director Solly Segooa.
The CSH share has been under suspension since 6 December and is expected to be delisted on 20 January.
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