JSE listed IT firm EOH has appointed high profiled black economic empowerment (BEE) activist Sandile Zungu to become chairperson of its board.
The appointment announced today will become effective at the beginning of next month – 1 October 2013. It comes to further boost the already impressive transformational record of EOH while winning one of the most politically intelligent business personalities in the country.
Zungu is largely known for his long standing BEE activism and currently serves as the general secretary of the Black Business Council (BBC) and the BRICS Business Council. He is also a member of the Presidential BEE Advisory Council.
Due to his history of KwaZulu-Natal originated political activism, Zungu is reported to have the ear of the highest office in the land, reports he has not contradicted. In fact when President Jacob Zuma came to power in 2009, he is reported to have invited Zungu to serve as CEO of the presidency. But this did not happen.
Zungu’s political awareness mixes well with his respectable business acumen. As quoted from the EOH statement, Zungu holds a BSc (Mechanical Engineering) from UCT and MBA from UCT’s Graduate School of business. He also completed the Global Leadership Programme at Harvard Business School.
He ventured into the mainstream business arena via the BEE Equity path. His BEE path was carved inside the most prominent names in the history of BEE, New Africa Investment Limited (NAIL), African Merchant Bank (AMB) and SARHWU Investment Holdings (SIH). This prepared him to venture into the BEE Equity space on his own.
His vehicle, Zungu Investments Company (Zico), has participated in some of the most high profiled BEE deals. He currently serves ZICO, a diversified industrial holdings entity, as executive chairman.
Zungu also holds several non-executive directorships and serves on the Council of the University of Cape Town (UCT), the Council of the University of South Africa (UNISA) and the Advisory Board of the UCT Graduate School of Business. He is also a trustee on the Mapungubwe Institute for Strategic Reflections (MISTRA) and a trustee of Brand South Africa.
He has held various positions at Richards Bay Minerals (RBM), Engen Refinery, National Sorghum Breweries (NSB) and South African Breweries (SAB).
At EOH he comes to replace Rob Sporen, the out-going acting chairman, who remains on the Board as the Lead independent non-executive director. EOH is describes itself as a provider of business and technology solutions which come through consulting, technology and outsourcing. The company boasts revenue of around R4bn judging by the interim revenue of R2.3bn reported during the six months ended February 2013. The company’s 2012 BBBEE Scorecard positioned it as a level three BBBEE contributor with black shareholding of 37,47%. We previously reported that EOH makes a compelling transformation case.