IOT.nxt, a digital transformation enabler of the Internet of things has announced that its CEO and co-founder Nico Steyn is stepping down from his role with immediate effect.
In the interim, Steyn will be replaced by Shane Cooper, who currently serves as Managing Director of IoT.nxt Africa, until the board confirms a permanent appointment.
Steyn, will however, remain as shareholder and 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.
In a statement to the media, Steyn who co-founded IOT.nxt with partners Terje Moen and Bertus Jacobs in 2015 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 globalization.”
“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. IoT.nxt is perfectly positioned for exponential growth and I am looking forward to supporting this in my new role, but also making up for some of the time lost with my family,” he added.
Commenting on the announcement, IoT.nxt Chairman Wayne Fitzjohn, said: “Nico has 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 added, “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.”