Ethos names Stuart MacKenzie as next CEO
Ethos Private Equity announced today that Stuart MacKenzie has been appointed CEO to replace founding partner, AndrÃ© Roux, who is assuming the role of Deputy Chairman and chairman of the firm's investment committee.
Roux, widely regarded as the pioneer of South African private equity, has held the post of CEO since Ethos’ inception in 1984. MacKenzie (age 45) joined Ethos in 1998, became a partner in 2002, and has been a member of the firm's executive committee since 2009. He will assume the CEO role on 1 January 2014.
"Ethos would never have achieved its current level of success without the visionary leadership of AndrÃ© Roux. This succession has been planned for some time and represents a natural evolution of our management excellence," noted Ethos Chairman, Peter Mageza.
AndrÃ© Roux commented: "I am delighted to be passing the baton into Stuart's good hands. His appointment comes at an opportune time in Ethos’ history as we strive to capture new opportunities in a challenging environment. Stuart will spearhead our strategic initiatives to seize this potential."
"Private equity is a team sport," MacKenzie commented. "I will be working alongside Ethos’ exceptional team, all of whom have contributed deeply to our success. This leadership change marks a shift in Ethos’ history, but not our core principles or mission," he added. "We remain committed to our investors and portfolio companies to create businesses that are stronger, more robust, more sustainable and more valuable on exit than they were prior to Ethos’ ownership."
Ethos makes long-term investments into medium-to-large businesses in South Africa and selectively in sub-Saharan Africa. Since 1992, Ethos has raised over R16.0 billion (US$ 1.9 billion) from institutions comprising some of the largest and most sophisticated global and domestic private equity investors. The firm most recently closed Ethos Fund VI at R7.0 billion (US$ 805 million).