{"id":19523,"date":"2011-04-05T14:18:00","date_gmt":"2011-04-05T12:18:00","guid":{"rendered":""},"modified":"2011-04-05T14:18:00","modified_gmt":"2011-04-05T12:18:00","slug":"new-neotel-ceo-takes-over","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/business\/19523-new-neotel-ceo-takes-over.html","title":{"rendered":"New Neotel CEO takes over"},"content":{"rendered":"

In January this year Neotel announced that it has appointed Sunil Joshi<\/a> as the company’s new Managing Director and CEO, with effect from 1 April 2011.<\/p>\n

Joshi has now taken over from former CEO Ajay Pandey<\/a> who will move to back to Tata Communications after completing five years with Neotel.<\/p>\n

Joshi is however not shedding any light on the company’s plans and any potential turnaround strategy just yet, but it is understood that a media briefing is planned to give more details on the company’s future strategy.<\/p>\n

Making Neotel better<\/strong><\/p>\n

In January this year Neotel made headlines after a Deloitte & Touche auditor’s report<\/a> which was interpreted as questioning the sustainability of Neotel’s continued operations.<\/p>\n

“… the company’s recurring losses from operations and shareholders’ deficit raise substantial doubt about its ability to continue as a going concern,” auditors Deloitte & Touche said in an annual report filed with the US Securities and Exchange Commission.<\/p>\n

This report followed news in December 2010 that Neotel may be retrenching staff<\/a> as part of a strategy to create a more profitable company.<\/p>\n

In response to the retrenchment rumours Neotel said that it was “in the process of evaluating its business strategy, operational performance, efficiency and competitiveness with a view to ensuring that long-term sustainability is achieved.”<\/p>\n

Neotel previously indicated that this process would be completed by the end of March 2011, in time for the new CEO to take over with a new company structure.<\/p>\n

It is understood that the process is being wrapped up, but Neotel would not divulge any details about the restructuring at the company.<\/p>\n

Neotel today said that while Sunil Joshi began his official duties on 1 April 2011, it would be premature of him to comment on the internal realignment right now. <\/p>\n

Neotel did however say that Joshi “is committed to outlining his views of how Neotel plans to deliver to its customers and stakeholders, as soon as practical.”<\/p>\n

New Neotel CEO takes over<\/strong><\/a> << Comments and views<\/p>\n","protected":false},"excerpt":{"rendered":"

Neotel\u2019s new CEO Sunil Joshi recently took over at the company, and he is expected to discuss his plans soon<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[19],"tags":[],"class_list":["post-19523","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/19523"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=19523"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/19523\/revisions"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=19523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=19523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=19523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}