Johnnic Communications (Johncom), the listed entertainment and media group, on Tuesday announced that finance and operations director Prakash Desai has been appointed deputy CEO of the group with effect from the start of group’s new financial year on April 1.
Desai is part of the management team that successfully restructured Johncom over the past four years, growing profits strongly. In this period, the Johncom share price has increased nearly fivefold from R8,30 in May 2002 to a current price of about R40.
Johncom chairperson Mashudu Ramano said Desai has played a key role in the restructuring process and that his promotion is a sign of the board’s confidence in his abilities.
Group CEO Connie Molusi said he and Desai, as his new deputy, face exciting challenges in the months ahead.
“I am confident we will continue to deliver growth and shareholder value,” he said.
Johncom also announced the appointment of Howard Benatar as chief financial officer. Benatar has been with the group for the past three years. The group marketing director, Neil Jacobsohn, is leaving the company after 20 years’ service.
Ramano and Molusi thanked Jacobsohn for his 20 years of diligent and energetic service to Johncom.
“Jacobsohn has successfully completed the tasks assigned to him when he was appointed group marketing director in 2003, of creating a framework for cooperation between the group companies, and building effective internal and external communications channels for the group,” said Molusi. — I-Net Bridge