Peter Watt's man exits BCX

Johannesburg, 02 Aug 2007

Business Connexion (BCX) CFO Alan Farthing will leave the JSE-listed company at the end of this month; making way for Marius Schoeman.

The announcement follows the May resignation of long-standing CEO Peter Watt. At the time, analysts questioned the future role Farthing would have with the company.

An analyst, who asked to remain unnamed, explains: "It is well known in the investor community that Farthing was Watt's man."

"However, Farthing says "there is nothing sinister" in his resignation. "I just need a change of environment, it's time to move on," he explains.

BCX CEO Benjamin Mophatlane says the company is sad to bid farewell to Farthing, but notes he has great confidence in new CFO Schoeman.

Moving up

Schoeman has been promoted from within the company's ranks.

A chartered accountant, Schoeman joined BCX in 2001 and was appointed group executive of its commercial business. In 2006, he was tasked with managing the long-term IT outsource contract with the Sasol Group as a standalone business unit.

"Schoeman brings to the position great insight into our business and our client environments, which I am sure will serve the business well as we grow the company. Farthing has served BCX and its shareholders with distinction and integrity since 1999. I would like to take this opportunity to thank him for his diligence and for the loyalty he showed at all times," he says.

Meanwhile, Farthing will take some time off before pursuing other opportunities.

"Corporate life is fairly hectic and I need a change in what I do. I'm not having a mid-life crisis, but I have to decide what I want to do for the rest of my days," he says.