MiX Telematics (MIXT) CFO Pydigadu Resigns

November 15, 2016 6:19 AM EST

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MiX Telematics (NYSE: MIXT) announced that Mrs. Megan Pydigadu has tendered her resignation as Chief Financial Officer and member of the Board to pursue a new career opportunity in a non competitive industry.

Stefan Joselowitz, Chief Executive Officer at MiX Telematics, said: "On behalf of the Board and staff of MiX Telematics we thank Megan for her valuable contribution to the company over the past six and a half years.” Mr. Joselowitz added “Megan has provided valuable support to the business and has established a strong financial team. We wish her everything of the best in her future endeavours.”

Mrs. Pydigadu thanked MiX Telematics for the opportunities provided to her over the last six and a half years. She added “I have witnessed the company grow into a leading global telematics provider and I wish the team continued success into the future.”

Mrs. Pydigadu will serve a 3 month notice period to ensure a smooth transition of the finance function and an announcement on her successor will be made in due course.

Mrs. Pydigadu has exercised a tranche of options for 750,000 ordinary shares on the JSE (equivalent to 30,000 ADRs on the NYSE) which she intends to sell.

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