Datatec Limited - News Release
Release Date: 25/05/2004 09:08:28 Code(s): DTC
Datatec Limited - News Release
DATATEC LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1994/005004/06)
(Share code: DTC)
(ISIN: ZAE000017745)
(`Datatec` or `the Company`)
NEWS RELEASE
Datatec`s Westcon appoints co-founder as new president and CEO,
positioning the company for growth phase
Datatec`s Westcon Group, Inc., a global specialty distributor of networking
technology products, today announced that Thomas E. Dolan, co-founder of the
company, Executive Vice President and a member of the Board of Directors, has
been named President and Chief Executive Officer.
Dolan succeeds Alan Marc Smith, President and Chief Executive Officer since
2001, who has fulfilled his vision to transform Westcon into a leading specialty
distributor of convergence and security technologies. Smith will pursue new
challenges and business opportunities and will remain with Westcon for a
transition period and intends to retain his equity stake, reflecting his
confidence in the company`s long-term potential.
Dolan, 50, has served in a wide range of executive roles since co-founding
Westcon in 1985, and has taken part in nearly all of the company`s significant
achievements during its history. Most recently he has served as an Executive
Vice President and worked closely with Smith in setting the company`s strategic
direction, managing operations, identifying acquisition opportunities and
preparing the company for a NASDAQ IPO. From 2001 to 2002 he served as Chairman
to the Board and from 2000 to 2001 he was President and CEO. From the company`s
founding in 1985 to 2000 he served as Executive Vice President of Worldwide
Sales and Marketing.
Says Dolan: `I look forward to the opportunity to again serve as CEO of Westcon.
We now enjoy a reputation as one of the world`s leading specialty distributors
of networking and communications products. Now that we are positioned as an
industry leader, the time is right for me to return to the CEO post and we
expect that the transition will be seamless.`
Commenting on the transition, Datatec CEO Jens Montanana said: `Under Alan`s
leadership the company has emerged from three years of industry contraction and
intensive competitive pressures in better shape than many of its peers, having
succeeded in growing market share and defending its above industry average
margins. Alan has been a tremendous operator ensuring the company was
sufficiently internally focused on matters that count in tough markets, working
capital management and strengthening the balance sheet.
`We are very excited that Tom Dolan has accepted the new role. His considerable
sales and marketing background will benefit the company which believes it is
entering a period of sustainable growth where opportunities exist to improve
margins and drive the front end of the business,` said Montanana.
Sandton
25 May 2004
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
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