Listed workforce solutions group Adcorp Holdings Limited announced today the appointment of its new Chief Executive Officer (CEO) Mr Innocent Dutiro and the sale of its effective 34.6% equity stake in Nihilent Technologies PVT Limited for USD 25,5 million to Dimension Data.
Adcorp’s Board of Directors has approved the appointment of Mr Innocent Dutiro as CEO, effective 1 October 2017, to lead the Group as it embarks on its new strategic path.
Innocent, who was the CEO for Africa and Asia at MMI Holdings Limited since June 2016, is a senior business leader credited with extensive and varied executive and board-level experience in strategy, consulting, business turnaround, post-merger integration, performance improvement, and executive management in the banking, fast-moving consumer goods (FMCG) and engineering sectors. He holds BSc and MSc degrees in Mechanical Engineering coupled with an MBA underpinned by a considerable business and personal network across several sub-Saharan countries.
He is a highly effective negotiator and communicator with strong people skills along with solid leadership, problem-solving and decision-making abilities and an eye for the bottom-line. He has held senior leadership positions at Bain & Company, Deloitte Consulting, Gemini Consulting, Nedbank Retail Bank and South African Breweries (SAB), among others.
“I am excited and energised about joining a market leader such as Adcorp,” says Dutiro. “Adcorp is a well-established business with a strong heritage in South Africa that can be leveraged to create value for all stakeholders,” he adds.
“I am proud to be leading the Adcorp team on this journey as we aim to strengthen our position in the market and contribute positively to the chosen geographies in which we operate,” he continues.
Commenting on the appointment, Ms. Gloria Serobe, Chairperson of the Board says: “The Board is delighted to have secured the services of Mr Innocent Dutiro. “He has the ideal business experience, strategic focus and well-developed network that the Group requires at this critical stage of its evolution. We wish him all the best and pledge the full support of the Board as he steers the business towards its next stage of growth and profitability.”
Acting CEO Mark Jurgens adds that he is looking forward to working with Innocent in his new role. “I believe that given the current economic environment, alignment among key stakeholders is imperative to ensure the effective execution of the strategy required to drive the company forward,” says Jurgens.
Looking ahead, the Group’s strategic path will see a stronger focus on its core operations and as such Adcorp will dispose of its equity stake in Nihilent Technologies to Dimension Data.