Net 1 UEPS terminates consulting agreement with former CEO Serge Belamant
Net 1 UEPS Technologies announced that its board has issued its former CEO, Serge Belamant, a 90-day written notice to terminate his two-year consulting agreement with the company. Belamant retired as CEO of Net1 on May 31, 2017. The company will not be making any termination payments to Belamant beyond the 90-day notice period. "We have managed a smooth transition and thus believe there is limited value to continuing with such agreement for a lengthy period of time," said Mr. Christopher Seabrooke, Chairman of Net1. "We discussed our decision with Mr. Belamant, who concurred with our conclusion. Our parting is cordial and we wish him success in his future endeavors after the remaining period of the consulting agreement with us," he concluded.