Former Vice-Chancellor of the University of the Free State, Professor Jonathan Jansen, is set to step down from the ADvTECH [JSE:ADH] board.
The announcement was made by ADvTECH on the JSE Stock Exchange News Service on Monday. ADvTECH is a private education group, with member schools such as Crawford and Abbot College, as well as tertiary institutions such as Vega and Oxbridge Academy.
According to the shareholder notice issued by the group, Jansen plans to retire at the next annual general meeting to be held in May 2020.
"Professor Jansen, who has served on the bBoard for 15 years, has indicated that he has made the decision to retire in light of the recommendations of King IV on tenure and in the spirit of good corporate governance," the statement read.
ADvTECH's share price opened at R9.90 on Monday and was trading at R9.60 shortly before the announcement was made at 16:10. By 16:30 shares were trading 1.32% stronger than the previous close at R10, compared to a year ago, when they were trading at around R13.
Compiled by Lameez Omarjee