Teddy Daka, CEO at Ansys
Teddy Daka, CEO at Ansys (Photo Credit: Ansys)

South Africa’s Ansys announced on Friday the appointment of Elvin de Kock as Chief Financial Officer.

His appointment is effective from 8 January 2018.

De Kock replaces Burt Lambrecht, who served in this position for the past two years.

He is a fellow of the Chartered Institute of Management Accountants, an associate of Chartered Institute of Company Secretaries amongst others.

De Kock has started his career as the financial manager for Reuters in Africa, in 1986.

Since then he has served on the boards of a number of companies, in various positions.

“The appointment of Elvin to the position of CFO is in line with the company’s growth strategy, where his experience would support the additional skill sets required on a group level,” the company informed investors.

“Burt’s previous involvement in the growth of the company’s defence and mining businesses will be utilised in the establishment and growth of the company’s two new business units, Original Design Manufacturing and Digital Defence.”

Ansys Eyes Global Expansion in the Defence, Cyber Security Space

In a move designed to further diversify its revenue streams, Ansys is targeting global growth opportunities in the defence and cybersecurity space.

CEO Teddy Daka, who is targeting growth opportunities in the telecommunications and rail industry, also has big ambitions to grow the company’s defence and cybersecurity business, where revenue doubled to R187,6 million from R90,1 million in the previous year.

The company attributed the growth largely to organic growth as well as higher than expected sales volumes from opportunities outside South Africa, particularly in the Middle East markets.

The group also invested heavily into product development in the cybersecurity business and as such this segment’s profits declined by 8% from R16 million to R14,7 million.

“Growing our international footprint remains an important focus area and various opportunities, especially in the defence segment, have been identified,” Daka disclosed in the company’s latest annual report.

“The increased threat of cybersecurity provides the group with opportunities locally and internationally.”