“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,” Knott-Craig said in a press statement.
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.
Mxit also announced that the social network is “set for massive growth following a R100 million investment by shareholders.”
“Mxit has a window of opportunity and is pursuing aggressive growth by increasing the user base in Africa through partners in targeted African countries,” the company said.