Frank Cadiz, Founder of South Africa's Cadiz, quits as CEO of asset unit

Frank Cadiz, the founder of the South African financial services firm Cadiz Group and the chief executive of its asset management arm, has resigned after a clash with shareholders, the company said on Thursday.

Cadiz (NasdaqGM: CDZI – news) stood down on Jan. 20 and was replaced by Brian Wootton, who was appointed at the behest of UK-based investment firm Blackstar Group SE, a major Cadiz shareholder, a company spokesman said.

Read more: Founder of S.Africa's Cadiz quits as CEO of asset unit – Yahoo Finance UK.