Mustek, a JSE-listed technology company, has announced Hein Engelbrecht as the Group’s CEO.
Hein became acting CEO shortly after the passing of the then CEO and founder David Khan in May 2022. The company’s board made this decision as plans to ensure short-term uninterrupted continuity of the company, the Group said at the time.
Engelbrecht has been with the company since 1997. He joined the Group at the time as Group Financial Manager and was promoted to Group MD in 2007.
“Having been on the board for 21 years and having working closely with Mr David Kan, the board is confident that with his work experience and skills, he will stabilise and move the group forward until such time as a permanent appointment is made,” Engelbrecht said when he was appointed as acting CEO.
Mustek was devasted at the passing of its founder and described it as “deeply emotional” for both the family and colleagues of the late Khan. Engelbrecht has, however, seemed to have kept the company afloat, considering this new decision to remain CEO.
According to Merchantec Capital, the company’s revenue growth is expected to increase by 10.9% to R5.8bn ($354.3-million) for FY22 and a further 7.4% to R6.2bn ($378.8) in FY23.
Edited by Zintle Nkohla
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