Stortech head steps down

Tim Knowles has resigned as CEO of Storage Technologies Services (Stortech) – a managed enterprise data centre services company providing a range of storage and security services. Vodacom is a majority shareholder in Stortech.

Speaking to MyBroadband BusinessTech, Knowles said that he decided it was time for a change, and that he actually served as CEO of Stortech for two years longer than what his initial agreement with Vodacom was.

Knowles, who has headed up Stortech since August 2003, will remain a shareholder and director at the company. He added that he has no immediate plans to sell his shares.

Vodacom Business’ executive director, Steven Hayward will take over as acting CEO from Knowles until a suitable replacement is found.

Knowles said that he will remain involved with Stortech to ensure a smooth transition, and will assist both Hayward and the new CEO when required.

Knowles’ resignation comes as somewhat of a surprise as the company was performing well despite tough economic times. The former Stortech CEO said that the company is performing well financially, and is showing strong growth so far in 2012.

He added that the company has been profitable for the last nine years, and there is no reason to believe that this trend will not continue.

Vodacom was asked about Knowles’ resignation, but the mobile operator said it could not comment on the issue.

This is the second CEO departure at a Vodacom-owned business in recent months after Zoopy CEO Jason Elk left the company he founded at the end of September.

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Stortech head steps down