CIPLA Medpro’s recently released annual report shed little light on the group’s recent scandals.Top executives in the country’s third-largest pharmaceutical company refuse to release the contents of three forensic investigations into the issue. The only reference made about them in the annual report was that these were “initiated to unpack the various allegations levelled against the former CEO for mismanagement.”“Whilst most of the findings have been dealt with and corrective steps taken, some findings are still under consideration by the board,” said chairman Sbu Luthuli and acting CEO Johan du Preez.The company would not be drawn on which findings are still being dealt with and if these would be released to the public in future.Cipla Medpro’s silence on its corporate scandals follows a trend observed in other JSE-listed companies (see box), despite the King corporate governance code requirement that companies be open, honest and transparent with all stakeholders.Cipla Medpro has ...
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