Oakbay Investments (“Oakbay”) announced earlier this week that its Chief Executive Officer, Nazeem Howa, was resigning 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 thanked Mr Howa for his outstanding contribution to the company since joining it in 2010.
Ronica Ragavan, Acting Chief Executive Officer of Oakbay Investments, was full of praise for Howa.
“Nazeem has been an 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.”
Howa expressed appreciation for the time he had spent at the helm of the rapidly growing company.
“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,” said Howa.