Former FNB CEO Michael Jordaan appointed Mxit board chair

2013-09-30 12:04

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Former First National Bank chief executive Michael Jordaan has been appointed as chairman of Mxit’s board of directors.

“Michael’s appointment is a great coup for us,” Mxit chief executive Francois Swart said in a statement.

“I am sure he has been inundated with offers, and to become part of the Mxit team is a vindication of the direction we have taken and the innovation that is happening within Mxit.”

Jordaan said he had been watching Mxit with interest for several years.

“Mxit is a really cool company and has built some world-first innovations over the last eight years.

“I have spent some time with their development and design team and they have shown me some of the projects they are working on, especially in the smartphone space.”

Jordaan said he would not be receiving remuneration in his new role.

“I am not receiving a salary or shares for my role as chairman. I wish to remain nonexecutive and do not wish to be paid.”

Jordaan would take over from Roger Grobler, who remained on the board as a nonexecutive director.

Mxit has 7.4 million monthly active users, of whom 6.5 million are within South Africa.

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