JOHANNESBURG (11/26/2003) - Contrary to a report published by one of the financial media Wednesday morning, Dimension Data SA executive chairman, Jeremy Ord, is not planning to step down, or leave the company in the foreseeable future.
According to a statement made by Dimension Data at the time of its results announcement last year, the roles of chairman and CEO are to be split, in accordance with corporate governance requirements.
A source within the company says that, as stated in the 2002 financial results, the roles will be split, and the company will make an announcement in this regard when it is ready to. Accordingly, the source said, the company is examining candidates both internally and externally.
In the chairman's statement accompanying the most recent results, Ord noted that: "We are pleased to be able to report that we have dealt with the majority of the corporate governance recommendations raised by the King II Code on Corporate Governance in South Africa and the Revised Combined Code in the U.K. We remain committed to addressing any outstanding issues, and will keep our stakeholders informed of progress."
In terms of the listing requirements of both the London Stock Exchange and the JSE Securities Exchange, where DiData is listed, the company would have to make a formal statement to shareholders in the event of any changes in directorship. No such announcement has appeared on either exchange's news services.