PIC Solutions Appoints New CEO

14 January 2009

PIC Solutions has appointed a new Chief Executive Officer, David McAlpin, to replace Stephen J. Leonard who will be moving to Dubai as CEO of PIC Solutions International.

With ultimate executive accountability and responsibility for the people, assets and performance of PIC Solutions, locally and internationally, David will focus on expanding the well established Southern Africa client base.

David has extensive international and local business experience and has held senior executive positions in the Massmart Group, CNA, Forza and the Lewis Group. During his 7 years with the Massmart Group, David held the positions of Commercial Director (where he was responsible for IT and Systems Management), and Managing Director of Dions Stores. David was the Chief Executive Officer of Forza (a listed luxury motor and outdoor leisure lifestyle distribution group) for 4 years and was the Managing Director of CNA for 3 years where he was responsible for the turnaround and repositioning of the company. He holds a Bachelor of Commerce Degree from Rhodes University, an MBA from the University of Cape Town and is an Associate of the Chartered Institute of Management Accountants (A.C.M.A.).

David’s appointment takes effect from 1 January 2009.

David McAlpin, Chief Executive Officer at PIC Solutions, comments, “I am honoured to take on the role of CEO and look forward to building on the solid foundations that Stephen leaves behind. PIC Solutions is the leading specialist credit risk solutions company in the EMEA region and with our latest restructuring we will continue to deliver the most innovative service that keeps us growing from strength to strength.”

Stephen J. Leonard, Chief Executive Officer at PIC Solutions International, comments, “I would like to congratulate David McAlpin on his appointment as CEO of PIC Solutions. With his valuable industry experience I am confident that the company will be in excellent hands under his leadership.”

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