Kazacos steps back from helm
- 17 June, 2003 10:50
Peter Kazacos, chief executive and managing director of the Kaz Group, will step down from the role to become deputy chairman and focus on major new strategic initiatives.
Kaz, named after Peter Kazacos who led the Sydney-based company for 15 years, will conduct a search for a replacement immediately.
Kazacos will remain in his current role until a replacement is found, Kaz said in statement to the Australian Stock Exchange yesterday.
The company plans to appoint an experienced operational executive with a background in managing a large public company to guide the company through the next phase of growth.
The board supported Kazacos' decision, and believes the change will be positive for the company, officials said.
"Many current opportunities of strategic importance require Peter's involvement and vision." Kazacos said the role of chief executive had changed as the company grew.
"I have always enjoyed working closely with customers and new technologies. By making this move I will be able to hand over the daily responsibility of running a public company and free up more time to pursue strategic opportunities for Kaz Group," he said.
Last month Kaz Group restructured its operations into two units, a move it said would allow it to fully incorporate Aspect Computing, which it acquired in April last year, and provide customers with a single point of contact to the full range of its services.
The new Kaz Technology Services company combined the Aspect business with the former Kaz Computer Services to offer facility management and outsourcing as well as managed infrastructure, technical, application development consultancy and education services.
Kaz Business Services, which absorbed the former Ausdata business and business process outsourcing division, offers customer contact solutions, claims management and processing, document management, client administration and transaction services.
Kaz shares listed on the ASX in March 2000, during the height of the dotcom boom, but have since fallen steadily.
- with Brian Corrigan