ADvT ECH announced today that Leslie Maasdorp, chairman of the board of directors, has been appointed chief executive officer (CEO). Maasdorp has served as an independent non-executive director since 2009 and as chairman since 2010, a post he relinquished today. Jeff Livingstone has been appointed acting chairman, having been an independent non-executive director since 2008. The unanimous decision of the Board was made following a rigorous seven-month, national and international search of both external and internal candidates.
Jeff Livingstone, acting chairman of ADvTECH Group said:
“The board of directors believes Leslie embodies the experience, vision and leadership skills necessary to lead ADvTECH as it enters a new phase of growth.”
Retiring CEO, Frank Thompson, said:
"ADvTECH is well positioned to enter its next chapter and Leslie is the right person to lead the Group. I am enormously proud of what we have achieved in recent years, and Leslie has played a pivotal role in many of these achievements. Not only has Leslie established himself as a proven leader, but his unique mix of corporate and operational experience combined with his strategic vision, passion for education and deep understanding of the business makes him ideally suited to be our next CEO."
Maasdorp has more than 24 years’ experience in economic policy making, corporate strategy, and investment banking. He has occupied senior leadership positions in both public and private sectors. He served as Special Advisor to the Minister of Labour and was Deputy Director General of the Department of Public Enterprises. He is the former President of Bank of America Merrill Lynch for Southern Africa and previous Vice Chairman of Absa Capital and Barclays Capital for Africa. In 2002 he became the first African to be appointed as an International Adviser to Goldman Sachs International, a position he held for four years. In 2007 he was designated by the World Economic Forum as a Young Global Leader.
“I am honoured and excited by the opportunity to lead ADvTECH in this new capacity as CEO,” said Maasdorp. “We have a strong asset base, tremendous talent, and an unmatched legacy of academic excellence and leadership. I look forward to working with my colleagues and the leadership team in this exciting Group. We will be increasing our investment in new infrastructure and technology as we propel ADvTECH into new markets and geographies.”
Leslie Maasdorp will formally take up his position on 24 October 2014, and from today will be working with Frank Thompson to ensure a smooth transition.
Frank Thompson