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Mr Price suspends two senior managers

For alleged non-compliance of the company’s code of conduct.

South African clothing retailer Mr Price said on Thursday two members of the senior management had been suspended as a precaution following allegations of non-compliance with the firm’s code of conduct.

Mr Price, which also sells furniture and home decor, said in the statement that a single supplier was also involved. It did not name the managers or the supplier.

“The allegations do not relate to any financial reporting irregularities, nor do they involve any Executive or Non-Executive Directors,” it said.

The employees had been placed on precautionary suspension while an internal investigation was under way to ensure “this matter is fairly and expediently resolved,” it said.

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Hopefully, the resolution of this matter is expedited fairly, and not at all expediently!

Who are those senior managers and why have they been suspended, I wonder..?

End of comments.

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