SOUTH AFRICA – Dr Vukile Charles Mehana, non-executive director at Premier Fishing and Brands Limited’s parent company, African Equity Empowerment Investment Limited (AEEI) has resigned from the position after 12 years of service in the firm.

This follows his appointment as the new chief executive officer at Sizwe Africa IT Group, a subsidiary of AYO Technology Solutions, reports Business Report.

“The Board wishes to thank Reverend Dr Mehana for his 12-year tenure as an independent non-executive director, Chairman of the Nominations and Investment Committees and member of the Remuneration committee. 

In compliance with paragraph 3.59 of the JSE Listings Requirements, shareholders are advised that Reverend Dr Vukile Charles Mehana has resigned as an independent non-executive director of the Company with effect from 14 March 2019, due to his commitments as a director of other boards.

The Board wishes to take this opportunity to wish Reverend Dr Mehana all of the very best and success going forward in his new role,” said AEEI in a statement.

The South African National has a PhD from the University of Johannesburg, a Master of Business Administration (MBA) from De Montfort University in UK and a Master Class Certificate from the London Graduate School as part of his academic background.

“The Board is happy to note that Reverend Dr Mehana has taken up the role as chief executive officer of Sizwe Africa IT Group Proprietary Limited, a company within the broader Group,” Sizwe Africa IT said in a separate statement.

Premier Fishing and Brands (PFB) is a vertically integrated group which specialises in the harvesting, processing and marketing of fish and fish-related products under the equity firm- AEEI.

PFB operates its business under various brands which include; Atlantic Abalone, Premfresh, Seafoods and Marine Growers.

Early this year, AEEI – which already holds a 0.75% stake in Pioneer Foods – expressed its interest in acquiring a bigger stake in the firm

The equity firm acquired the stake after participating in an empowerment scheme in 2012 when almost 29-million shares were issued to black investors with its empowerment stake valued at about US$9.91 million at the ruling Pioneer share price.

AEEI has already established its ground in in the local food sector through its significant participation especially by controlling stake in Premier Fishing & Brands.