Vhahangwele Nemakonde
Digital Journalist
1 minute read
25 Mar 2021
4:33 pm

Sygnia CEO Magda Wierzycka to step down

Vhahangwele Nemakonde

Reacting to the announcement, Wierzycka said she was going to focus on strategy and innovation - skills Sygnia would benefit from.

Magda Wierzycka, outgoing CEO of the Sygnia Group. Picture: Gallo Images / Sunday Times / Alon Skuy

Sygnia co-founder Magda Wierzycka will step down as the financial services company’s joint CEO effective from 31 May, the company has announced.

“Ms Wierzycka will remain involved in the company as a non-executive director, while Mr David Hufton, who currently shares the role with her, will assume the role of sole chief executive officer on 1 June 2021,” the company said in a statement on Thursday.

Hufton was appointed deputy CEO in July 2018 and joint CEO in April 2020.

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“After successfully leading Sygnia since its inception in 2006, Ms Wierzycka will continue to play a key role in shaping the strategic direction of the company together with its executive team and the board of directors.

“Ms Wierzycka and her associates will retain their majority shareholding in the company.

“The board of directors wishes to thank Ms Wierzycka for her dedication and devotion to the company she co-founded in 2006. The board is also confident that Mr Hufton and the current management team is well positioned to steer Sygnia into its next chapter,” the company said.

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Reacting to the announcement, Wierzycka said she was going to focus on strategy and innovation – skills Sygnia would benefit from.

“The biggest mistakes entrepreneurs make is to believe they can transition into professional executive management roles. I prefer to focus on what I am passionate about, strategy, innovation and looking for new opportunities. Sygnia will continue to benefit from my best skills set,” she said.

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