Rain has announced that its chief risk officer, Phumlani Moholi, will step down as an executive director effective from 1 March 2021.
“Phumlani will continue to sit on Rain’s board as a non-executive director and remains a shareholder,” Rain said.
“Phumlani has been an integral part of the business for the last ten years starting as the Chairman of Multisource, the founding company of Rain.”
Moholi is a registered professional engineer and has served for more than 30 years in various senior positions in engineering and telecommunications.
He has held the position Chief of IT and Telecoms Officer for the 2010 FIFA World Cup Organising Committee. Prior to that, he was the Chief Technology Officer at MTN South Africa.
“Phumlani has played a pivotal and entrepreneurial role in the establishment of Rain and in his Executive role has contributed immensely to Rain gaining a foothold, and becoming a respected player, in the competitive South African telecommunications landscape,” said Rain chairman Paul Harris.
“We thank Phumlani for his leadership and commitment to growing rain and its people. We look forward to his continued contribution on the board as a non-executive and wish him well in his retirement.”
He will be succeeded as executive director by Rustum Fortune, who holds a BCom in Information Systems from UCT and an LLB from UNISA.
Rain said this combination provides the ideal blend of technical and legal skills for the position.
“Rustum has had the benefit of working with Phumlani for the past year which will ensure a seamless transition,” Rain added.
Rain also announced the appointment of three additional board members, representing various shareholders in the Rain group.
These new appointees are Leshni Naidoo of Pluvial Holdings, Mamedupi Matsipa of ATA Capital, and Charmaine Padayachy of African Rainbow Capital Investments.