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Summary requirements for the role of CEO P
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ti e s : Resign current role by : End March 2025 (i.e., assuming a 3 month notice period – this could be longer).
Start date of new CEO role : 01 July 2025 Salary : R5m (guaranteed portion). Incentive : Bonus, LTI and share scheme, but structured equity participation may also be negotiated over time. Handover : 5 months with current CEO, post appointment. Location : Johannesburg based. Getting to the regions Work format : The principle would be 5 days a week, at work, in person – some working from home would be possible.
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• Executive leadership of businesses in the Telematics, Vehicle tracking and/or adjacent industries (e.g., industries with a significant B2C, business model – insurance/telecoms or B2B logistics/fleet management, or services and security, or new generation Fin Techs). Business acumen, strategy articulation and execution leadership is more important than Technical acumen. Knowing how to make money from technology (e.g., monetising data, AI, creating new products and services) is more important than knowing how to develop technology.
• The successful candidate should preferably not come from a large organisation (e.g., one of the telcos, etc.,), where there are many people, lots of meetings, committees and protocol. In Tracker, the individual would need to be comfortable getting their arms around the whole of the business. There are not many structures, or areas of functional expertise above or at the level of the CEO role, to provide support (other than shareholders).
• A track record running businesses with annuity-based business models. If not at Company CEO level, perhaps as a divisional CEO (with P&L and balance sheet accountability) and a track record of turning their business around, through the next growth curve.
• Brings their experience of the best of corporates (i.e., not the bureaucracy, meeting inefficiencies and email interaction, etc.,) but rather the rigour in structure and discipline in goal setting and reporting, prioritisation and the like.
• Strong experience with managing Boards and Shareholders, and a good understanding of PE shareholders (i.e., as opposed to institutional ones) who have different priorities, and an energy to be involved in the business. The incumbent would need to be equally capable managing “up as down”.
• Whilst experience working with PE assets and their sale, or the reformatting of ownership structures is not essential, it would be constructive. Knowledge and experience with capital allocation is important.
• Knows how to run a lean and efficient business, but is also aggressive enough to find new market opportunities. • A track record of having achieved growth in the business(es) they have run (i.e., growth in the core), as well as having successfully
implemented material growth initiative(s) in the past. Experience growing businesses out of turnaround interventions is not relevant.
It is not advisable to search for candidates from among Tracker’s competitors.
The successful candidate should have between 5-7 years experience at Executive leadership level and have the relevant academic qualifications (e.g., MBA, or
degrees in Commerce, Engineering, IT, Finance).
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Summary requirements for the role of CEO
Leadership philosophy
Preferences Deal breakers
• A work from home attitude / preference ( i.e., if the right candidate works 4 days at the office, 1 day at home, this should not be a disqualifier).
• A professional manager (e.g., someone who has been a career CA, with no operational /CEO experience. Having a CA, but also relevant operational and executive leadership experience will be appropriate).
• Someone who wants to cut their teeth in this role. • Someone who believes the Board needs to hand hold the CEO/business. • No experience working in the SA context. • A start-up person, who is used to doing everything themselves.
• Is a self-driven, self motivated individual who takes the initiative and is a “go-getter”. Is comfortable leading leaders, rather than managing employees (i.e., prefers to surround him/herself with people more capable than he/she is in their domains). Enjoys leading people, interfacing with employees and customers.
• Takes personal ownership of the business’s Brand and embodies the purpose of the business and drives things to make sure the business remains relevant and to ensure consumer pull for the business’s offerings. Does not sit behind a desk, but personally interfaces with employees, executives and key customers.
• Takes the initiative to bring growth and diversification opportunities to the Board. • Has a bias for clear decision making, action and commercialising ideas. Is deeply invested in ideas being executed on operationally. • Is focused and hard, but is also fair. Is relentless producing results according to agreed targets / goals. Must have a bent towards outputs, rather
than inputs. • Prioritises personal growth in executives and employees. • Builds high performing teams, a culture of accountability and ownership in the Management Team and strong succession pipelines. • Has strong commercial judgement (i.e., is capable of identifying what is and is not “good business”). • Is skilled at having constructively tough conversations (i.e., with suppliers, customers and employees). • Is able to influence and lead people, but is not so domineering that he/she disempowers others, or becomes a dependency. Enjoys innovating over
perfecting. • Believes in growing through transforming and sustaining the new direction the business takes.
• Transformation candidate. • Extroverted energy. • Prior experience participating in a PE investment/sale
process. • Relevant International, Africa or emerging Markets
experience (i.e., people abroad who want to come back to SA), although the SA environment is the primary arena of operation.
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Value proposition to a prospective candidate
Summary
• For almost 30 years, Tracker has been the leader in vehicle tracking and stolen vehicle recovery, today boasting an impressive 1,5 million subscribers. Many changes are taking place in the consumer market and many opportunities exist to expand in the business and fleet markets. The competitive environment is fierce, with pressure on product features, market share and prices.
• In addition to the “business-as-usual” challenges, Tracker needs to continue to transform and integrate. The business recently achieved Level 1 BEE status which provides opportunities and challenges alike. The core business systems upgrade is almost ready for go-live, from which substantial benefits need to be unlocked. The digital and technology renewal opportunities are immense.
• Tracker also has a number of growth initiatives currently underway or in the pipeline. The substantial investment and skills upliftment that will flow from these initiatives, will enable further growth and diversification. Although innovation is a priority, whilst maintaining the core there is substantial additional value to be unlocked from and within the core business.
• It has active and supportive shareholders invested in this cash generative business. • It has great people, who are loyal and experienced, who are looking to be led into the next
chapter of their history. • The existing CEO is available to the new incumbent for a period of 5 months post the financial
year-end in June. • Tracker is poised for significant progress and growth, and it offers the perfect opportunity for the
right CEO to make a material impact on Tracker’s business, which positively impacts the lives of its employees, customers and shareholders alike.