EOH Holdings financial director John King has resigned. King announced his decision to leave the business at the group’s annual results presentation in Sandton on Wednesday.
King said he plans to pursue his passion in property development.
He said he will help EOH finalise its integrated report before exiting.
In a statement to shareholders, EOH said King has served as the group’s financial director for more than 10 years.
“John will be leaving the company effective 30 November 2018 to pursue his own interests,” it said. “John has played a significant role in the group over the last 12 years and the board thanks him for his invaluable contribution to the growth and development of EOH during his tenure and wishes him well in all future endeavours.”
EOH has begun the process of finding a replacement to King, it said.
His resignation comes after the group reported reported a full-year loss of R104-million, down from a profit of R1.2-billion in 2017. It reported a sharp decline in normalised headline earnings per share. Normalised Heps fell 41% to R4.67 in the 12 months ended 31 July 2018, while the group reported a diluted loss per share of 68c.
EOH said 2018 earnings were impacted by once-off impairments of assets, unwinding of non-core businesses and the discontinuation of some public-sector contracts. — (c) 2018 NewsCentral Media