IoT.nxt CEO steps down
IoT.nxt has announced that CEO Nico Steyn will step down from his position with immediate effect.
Steyn co-founded the company with partners Terje Moen and Bertus Jacobs in late 2015 and will remain as a shareholder and serve on the board.
“[Steyn] remains as a shareholder, will continue to serve on the board, assist in leadership transition and will work with the executive team to drive the growth and innovation strategy of IoT.nxt in a new capacity,” the company said.
Steyn said the decision was not easy, but that the team he had assembled was more than capable of taking the company into its next stage of growth.
“I will now focus my time and effort in areas of the business that I most enjoy and where I can continue to add meaningful value,” he said.
“As a founder making this decision is not easy. 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,” Steyn said.
He said that IoT.nxt is perfectly positioned for exponential growth and that he is looking forward to supporting this in his new role, but also making up for some of the time lost with his family.
“Launching a start-up, especially in the very competitive technology industry, requires sacrifices which I am confident will yield benefits over the coming years,” Steyn said.
“I am both delighted and excited about further contributing to the company to achieve its goal of being a dominant global force in IoT.”
IoT.nxt board chairman Wayne Fitzjohn said that Steyn played a critical leadership role, successfully driving the business as co-founder and CEO.
“On behalf of the board and shareholders I would like to sincerely thank Nico for his service and look forward to continuing to build IoT.nxt® into the future with him,” Fitzjohn said.
“Going forward, as we settle into the new managerial structure, we will be reviewing the leadership requirements in critical areas of the business with a view to ensure we continue to deliver on our strategic objectives and global aspirations.”
Shane Cooper, who joined IoT.nxt in December 2019, and currently serves as Managing Director of IoT.nxt Africa, will assume the role of acting CEO until the board confirms a permanent appointment.
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