Huge Group moves to non-executive chairman

Steve Tredoux, a director of Huge Group since August 2008, has accepted the position of non-executive chairman of the Group.

Tredoux replaces Anton Potgieter, who has handed over the post of executive chairman after holding the position since the resignation of the previous chairman in July 2007.

Ken Jarvis, lead independent director on the Huge board, noted the move as being in the interests of the company and its shareholders, as well as moving the company to full compliance with the non-executive chairman requirement of the new King III code of corporate governance.

“Steve knows Huge Group well, and has a thorough understanding of the information technology and telecoms sectors. His contributions at board meetings have earned him the respect of the board and we look forward to his guidance as chairman,” Jarvis said.

“Huge Group is committed to the highest standards of corporate governance, and to meeting all of the requirements of the King III code. The appointment of a non-executive chairman significantly helps us to meet these requirements.”

“Anton stressed at the time of his appointment that he wished to hold the chair only until a non-executive chairman could be appointed. He reiterated at the last two Annual General Meetings that his goal was to hand over to a non-executive chairman. This has now been achieved.”

 “Anton is a significant shareholder in and a founder of Huge Group, and will remain an executive director of the Group and a board member of Huge Telecom and Telepassport.  In addition, as Managing Director of Huge Group subsidiary Huge Media, Anton will now focus completely on building this promising enterprise aimed at taking advantage of the newly emerging mobile advertising sector.

“Anton and the board believe that a non-executive chairman will promote good corporate governance and will assist the company in its dealings with the Johannesburg Stock Exchange. Steve has accepted this position and has a mandate from the board to approach the JSE with a  view to resolving outstanding issues,” Jarvis stated.

Stephen Peter (Steve) Tredoux, 50, is a member of the remuneration and nomination committees of the Huge Group board.

He started his working career as an accountant but moved to general management where he worked in the property management industry and manufacturing. He joined the information technology sector where he was employed by National Data Systems as account director addressing all commercial and support issues for Nedbank. He subsequently joined MTN in 1995, working there until 2006. 

In his 11 years with MTN, Tredoux was instrumental in formalising distribution agreements with service providers, as well as investigating new routes to market, new product sets, and new ways of communicating with customers. When MTN acquired M-Tel, Tredoux was appointed in an executive sales and advertising capacity. He has considerable experience in sales distribution but is also a master at marketing and product development.

For further information please contact:

Duncan Palmer, Marketing  Manager, Huge Telecom, on 011 603 6000.