The CEO of Rand Water, Dr Simo Lushaba, has resigned from his position effective from December 31, the group said in a statement on Tuesday. He will be replaced temporarily by current chief financial officer Catherine Smith until a new CEO is appointed.
Lushaba, who joined Rand Water as CEO in April 2002 on a five-year contract, is leaving his position early to “pursue other opportunities”, the group said.
During his tenure, Rand Water grew its profit from R193-million for the year to the end of June 2002 to R502-million for the year to the end of June 2005.
In a memorandum to the staff on his resignation, Lushaba said: “When I joined Rand Water, I shared my purpose to create a high-performance company. Together we have just done that!
“I am very satisfied with what we have achieved. I sincerely believe that this is the right time for change of leadership so that somebody else with a medium- to long-term focus should come into the organisation whilst it is at its best performance level. In that way we can ensure that we build on a strong foundation for a medium to long term.”
Commenting on the departure of the CEO, the chairperson of the board, Jean Ngubane, said: “We are confident that Rand Water has firmly established itself on a growth path. Its performance has been exceptional and whilst we are sorry to see the CEO off, his contribution to the company enables us to look forward with confidence.” — I-Net Bridge