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Departing EOH executives were not implicated in corruption – Van Coller

The resignations are in line with leadership accountability, says CEO.
Zunaid Mayet, Rob Godlonton and Pumeza Bam were not implicated in corruption and were not dismissed, EOH Holdings CEO Stephen van Coller said on Tuesday.

The JSE-listed technology group said on Monday evening that Mayet, a former group CEO and most recently CEO of subsidiary Nextec, and Rob Godlonton, the CEO of EOH’s ICT business, resigned last Friday.

Read: EOH rocked by top-level resignations

Non-executive director Pumeza Bam also resigned from the board. Bam had served as an executive director of EOH for seven years and as non-executive director for the past two years.

“The directors are not implicated in corruption,” Van Coller said in a text message to TechCentral on Tuesday morning. “The resignations are in line with leadership accountability to allow the new management and board to move the company forward with the past behind us. That’s why they are helping with the handover.”

Mayet has been at EOH for the past decade and had replaced co-founder and former CEO Asher Bohbot in the top leadership position of the company before being moved to head up Nextec, a new company in the group that focuses on growth areas in the ICT sector.

Godlonton was an executive director and CEO of the ICT business and relinquished this role and his participation on various EOH subsidiary boards.

Assisting with handover

Both Mayet and Godlonton will assist with the handover until October 31 2019, EOH said. Mayet intends “embarking on a new entrepreneurial venture”.

News of the resignations came a day before EOH published key findings of an interim probe by law firm ENSafrica into corruption in the group’s public sector contracts.

The investigation unearthed “evidence of serious governance failings and wrongdoing at EOH”, the JSE-listed technology services group said on Tuesday.

The probe, requested by EOH Holdings CEO Stephen van Coller in February in the wake of allegations of irregularities involving the supply of Microsoft software to the South African department of defence, found serious problems in EOH’s public sector business run from the group’s head office as well as similar issues at subsidiary EOH Mthombo.

These include “unsubstantiated payments, tender irregularities and other unethical business dealings”

This article was published with the permission of TechCentral. The original publication can be viewed here

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They well may not have been implicated (still to be proven though) but they certainly were asleep at the wheel not to see the destruction of the share price and asked no questions. Also they were awarded share options

Your description of the wrong doing (or lack thereof) actually applies to the whole board and executives!
So, you might as well call for the dissolution of the whole board and firing of the executives who were there at the time.

Correct and the non executive board members that came to eat snacks and drink tea at the board meetings whilst adding no value.

Think:

Correct, it is not as if they were obscenely overpaid for a decade, so why should they be accountable for their unique insight, experience and governance? Be reasonable man! If they were paid more they might have detected wholesale fraud a bit sooner

This board and directors are also part of state capture and should avail itself to appear before Zondo Commission and sp;ii the bean to whom they paid their bribe.These senior members are still employed by our tax money,and how many other TENDER are given this way.

THe corporate governance needs to be relooked in detail in every Publicly listed companies,i am sure EOH is not the only one.It just that someone had the guts to spill the Beans,WE the investors are taken for a ride by the Investing pubic and our so called Ethical Fund Managers,who look lining their own pocket.

They were not implicated, they were simply incompetent and the new CEO, probably gave them option of going of their own accord or resign.

A new broom always sweeps clean.

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