Stephen van Coller will step down as EOH chief executive and retire from the company’s board on 31 March 2024.
The company announced that Van Coller has agreed to extend his five-year contract by another six months to 31 March 2024.
He was appointed EOH CEO on 3 September 2018, shortly before the corruption scandals and contracting irregularities were exposed.
“Over the last five years, Van Coller has successfully led EOH through a complete restructure and turnaround,” the company said.
There was a focus on saving jobs, deleveraging the balance sheet and implementing world-class governance systems.
“During the last financial year, EOH has been able to focus on growth and now operates as a normal company, with the majority of its legacy issues having been resolved,” it said.
The company said Van Coller has asked for his contract not to be considered for renewal beyond the six-month extension.
He will, however, remain available to the board after 31 March 2024, should he be required, to help with a smooth leadership transition and the completion of any outstanding projects.
“The board expresses its gratitude to Van Coller for his invaluable contribution to the sustainability of the company and wishes him well for his next chapter,” EOH said.
The news of Van Coller’s decision followed the resignation of EOH financial director Megan Pydigadu, who will leave the company at the end of October.
Pydigadu will join Spar South Africa as the group’s new chief operating officer on 1 November 2023.
EOH announced that Marialet Greeff has been appointed as an executive director and interim chief financial officer from 1 November 2023.
EOH said it is undertaking a thorough skills assessment as part of the recruitment of a new CEO and CFO.