CTICC boss calls it quits
Rashid Toefy will step down in June after seven years at the helm.
CAPE TOWN - Cape Town International Convention Centre (CTICC) Chief Executive Officer (CEO) Rashid Toefy has stepped down.
The announcement was made at a special media briefing on Monday afternoon.
Toefy handed in his resignation earlier this month after seven years at the helm.
As of June, he will longer be in charge of the CTICC.
The CEO says while some may question the move, there is nothing sinister about his decision.
Toefy described his time at the CTICC as "incredible", adding he's most excited about his involvement in the expansion project.
"I had a couple of important [key performance index] KPI's to deliver. One of them was to get the expansion off the ground and I have achieved that.
"That's why I feel it's the right time to go. It will be delivered to Cape Town in 2017 and I think it's a good time to hand over to new leadership," Toefy says.
The move comes a week after the City of Cape Town approved the R550 million purchase of shares to go towards financing the CTICC expansion project at a council meeting.
In 2012, three architects were awarded a controversial contract for the multi-million rand project.
But the expansion was subject to an investigation by the Public Protector Thuli Madonsela and the council's Forensic Investigation Department.
Unsuccessful bidders complained firms that won the tender should have been disqualified because members were involved with the bid specification committee.
The forensic department's report recommended disciplinary action be taken against three staff members for supply chain irregularities and advised the contract be cancelled.
However, the CTICC board announced in November last year it would continue with the project using the same team.
Construction at the CTICC will begin in July.