In an unexpected and surprising move, Alan Knott-Craig Jnr has stepped down as CEO of Mxit, citing shareholder differences.
This comes at a time when Africa’s largest mobile social network, Mxit, has announced a R100 million investment by shareholders.
On his stepping down, Alan Knott-Craig Jnr said: “While the shareholders and I share the same vision, we differ on how to get there. Therefore, I agreed to go my own way. I wish them all the best for the future. Mxit is Africa’s biggest tech success story, and can be a global success story.”
Knott-Craig refused to be further drawn on the issue.
Speaking to HumanIPO, Head of Communications at Mxit Sarah Rice confirmed that Knott-Craig will not remain as a shareholder or still be involved in the company. “No – He is has stepped down from all his duties. He is going to be taking a break,” she said.
Francois Swart, the current CFO, will act as the interim CEO. Mxit will be recruiting a new CEO and other new executives to drive the expansion.
Today staff at the company were informed of his departure. In a statement the shareholders said that Mxit was South Africa’s biggest tech success story in no small part due to Knott-Craig’s involvement and vision over the past year.
Mxit has a window of opportunity and is pursuing aggressive growth by increasing the user base in Africa through partners in targeted African countries.