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SQE
SQE
SQE - Square One - Changes to the roles assumed by certain executive directors
Square One Solutions Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1999/026822/06)
("the company" or "the group")
Share code: SQE ISIN: ZAE0000023768
Changes to the roles assumed by certain executive directors
Shareholders are advised that, co-founder and executive director of the group,
Trevor James has handed over CEO responsibility to Craig Alexander, previously
COO of the company. Alexander has been with the company for 4 years and has
extensive experience in the IT industry, both locally and abroad. James will
assume the role of Executive Director, Group Operations with immediate effect.
These changes form part of the long-term succession planning which has been in
place as part of the strategic repositioning of the group adopted by the Board
in early 2002.
Johannesburg
23 January 2007
Sponsor: Bridge Capital Advisors (Proprietary) Limited
SQUARE ONE EXECUTIVE TEAM CHANGES GEAR TO DRIVE FURTHER GROWTH
In a proactive move to further drive its current growth Square One Solutions
Group Limited has made significant new appointments to its top executive team.
The company has seen healthy growth over the last three years, with a share
price that has moved from a low of 20c to a high of R1.25 this year, and a
turnover surge from R90 million in 2003 to R205 million in 2005.
The 2007 financial year sees the following strategic changes in its executive
leadership.
Cofounder Trevor James, after 21 years at the helm of the company, has handed
over CEO responsibility to Craig Alexander, previously COO of the company.
Alexander has been with the company for 4 years and has extensive experience in
the IT industry both locally and abroad. Together with James he has spearheaded
the recent growth strategy which kicked off in April 2003.
"The change is not unexpected by the management and staff of Square One. The
process is aligned with our 5 year strategic plan." says James. "With CAGR in
excess of 30% year-on-year over the last three years the Group has recognised
the need for both market innovation and prudent leadership in the various
strategic areas of the Group".
To this end James assumes the role of Executive Director, Group Operations with
immediate effect.
Alexander`s first responsibility is to coordinate the extensive experience and
competencies of his new executive team. The newly appointed executive consists
of James himself; Mich Nieuwoudt, Group Services; Richard John, Group Sales;
Geoff Norman, Group Business Development; and Reginald Muzariri, Square One
Capital.
Alexander comments, "Through a process of organic and acquisitive growth the
Group has moved from strength to strength. A great deal of investment has gone
into the development and roll out of our client engagement architecture (IP2)
(Note for press only
we must specifically indicate that this must be a small 2
to the power of) and our services framework (NetFlex). This effort, coupled to a
"best of calibre" employment strategy and a sound development plan for Middle
and Senior management sees the Group well positioned for the next leap forward."
Alexander continues, "We know what specifically we are good at, and where we can
add value in our selected target markets. We also have excellent partners. The
Group is looking forward to another stellar year in 2007, especially in the
current buoyant market conditions."
Date: 23/01/2007 08:19:32 Produced by the JSE SENS Department.
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