Oakbay Investments ("Oakbay") (www.OakbayInvestments.co.za) announces the resignation of its Chief Executive Officer, Nazeem Howa, with immediate effect.
After a period of illness, Mr. Howa has stepped down from his duties at Oakbay due to health issues and medical advice.
Ronica Ragavan, the current Financial Director of Oakbay, will assume the role of Acting Chief Executive Officer, whilst the Company searches for a permanent successor.
Oakbay wishes to thank Mr. Howa for his outstanding contribution to the Company since joining in 2010.
Ronica Ragavan, Acting Chief Executive Officer of Oakbay Investments, said:
"Nazeem has been a outstanding Chief Executive for Oakbay and embodied the company's philosophy of hard work, innovative thinking, job creation and disruption where disruption creates value.
"We wish him the very best in his recovery."
Nazeem Howa said:
"It has been a honour and a privilege to lead such a talented group of co-workers. In time, Oakbay will be recognised as the type of company South Africa needs: innovative, job-creating, tax paying and law-abiding. I look forward to that day."