23 July 2018 05:55:26 AM

Adcorp appoints CEO and Director

- 2017-09-05 01:32:58 PM

In compliance with the Listings Requirements of the JSE Limited, Adcorp shareholders (“Shareholders”) are referred to the SENS announcement issued on 31 July 2017 and are advised that Mr Innocent Dutiro has been appointed as the Chief Executive Officer and an executive director of Adcorp with effect from 1 October 2017.

Innocent, who was the CEO for Africa and Asia at MMI Holdings Limited since June 2016 until recently, is a senior business executive with extensive and varied executive and board-level experience in Strategy Consulting, Business Turnaround, Post-Merger Integration, Performance Improvement, and Executive Management in Banking, FMCG and Engineering Sectors. He holds MSc and BSc degrees in Mechanical Engineering coupled with an MBA Degree underpinned by a considerable business and personal network across several Sub Saharan countries.

He is a highly effective negotiator and communicator with great people skills along with strong 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 and South African Breweries (SAB), among others.

Some of his most recent professional accomplishments include:

- Successfully integrated two disparate wealth management and private banking brands to form a full-service wealth and private banking business for one of South Africa’s top 4 Banking groups

- Led the successful turnaround of a courier and freight business

- Developed and implemented the concept of an online digital financial services business for one of SA’s largest insurers

- Led the financial and strategic turnaround of one of South Africa’s Development Finance Institutions

- Conceived and set up a pan African focused real estate fund for one of SA’s top Asset Managers

- As an engineer, he led several power station and chemical plant maintenance programmes

Commenting on the appointment, Ms. Gloria Serobe, Chairperson of the Board of Directors, said “The Board is absolutely 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”.