“The board would like to thank Richards for remaining with the company over the last two years during which time the company experienced many severe challenges,” BK One Limited said.
“Through his leadership Richards was able to stabilise the company thereby protecting shareholder value and lay the foundation for the continued growth of the company’s assets.”
(WATCH VIDEO: Bk One listing on the JSE)
The company, which invests in a portfolio of companies across various sectors in the development and growth sectors of private equity, also announced that Richards’ resignation would take effect from 30 April 2014.
“The board wishes Richards all the very best in his new endeavours. The board is currently exploring options for a successor for the CEO position and will advise shareholders as soon as it has finalised this appointment,” it said.