IoT.nxt CEO Resigns Immediately

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IOT.nxt has revealed that co-founder and CEO, Nico Steyn, is stepping down from his role with immediate effect. He will, however, remain a shareholder and board member of the Vodacom company.

“I will focus my time and effort on areas of the business that I most enjoy and where I can continue to add meaningful value. As a founder, making this decision is not easy,” says Steyn.

“However, I know the exceptional executive team that we have assembled over the past 18 months is well-positioned to embrace the next phase of commercialisation and corporatisation that is required for IoT.nxt’s journey of globalisation.”

“IoT.nxt has been my passion and my life for the past six years. My partners and the IoT.nxt board-backed my vision of creating a world-class product and company. IoT.nxt is perfectly positioned for exponential growth and I am looking forward to supporting this in my new role, but also making up for some of the time lost with my family.”

Steyn goes on to say that launching a start-up, especially in the very competitive technology industry, requires sacrifices which he is confident will yield benefits over the coming years.

“I am both delighted and excited about further contributing to the company to achieve its goal of being a dominant global force in IoT. I want to thank the chairman and the board for the opportunity to contribute to the tremendous development and growth of the IoT.nxt.”

“It has been a privilege serving as CEO and I wish the board, the executive team and our passionate employees even greater success in the future as we continue to build this remarkable business together.”

IoT.nxt has appointed Shane Cooper as acting interim CEO until the board approves a permanent appointment.

Edited by Jenna Delport
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