There has been another resignation on the SABC board. Victor Rambau has tendered his resignation‚ reducing the board to only eight members. TimesLIVE understands that Rambau has written to President Cyril Ramaphosa‚ Communications Minister Nomvula Mokonyane and chairman of Parliament’s portfolio committee on communications Humphrey Maxegwane informing them of his decision to leave the board. A board member who spoke to TimesLIVE said Maxegwane had been informed by Rambau’s employer‚ Standard Bank‚ that its employees should no longer serve on boards of listed companies or state-owned companies. Rambau’s resignation presents a minor challenge for the board as it is now left with only eight non-executive directors. That means the non-executive directors alone do not meet the required quorum to take decisions. But the full board‚ which includes the group CEO and the group CFO‚ can still meet and take decisions. "The full board can still function‚" the said the board member. Contacted fo...
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