SIU, SABC want former board members declared delinquent directors
Former CEO Hlaudi Motsoeneng’s pension is being withheld as part of a strategy to recoup the losses incurred under his damaging leadership
The former members of the SABC board should be declared delinquent directors and must be placed under probation for failing to act in the best interests of the corporation, the Special Investigating Unit (SIU) said on Thursday. The SIU and the SABC are also trying to recoup losses incurred by the broadcaster by withholding the pensions of erstwhile bosses including former CEO Hlaudi Motsoeneng and James Aguma, who previously acted in the position of CEO. The new SABC board‚ chaired by Bongumusa Makhathini‚ has been on an aggressive drive to improve the dire financial state and the operations of the public broadcaster following years of decline under Motsoeneng and other former executives who he irregularly awarded staggering salary increases and promotions. The current mess at the public broadcaster has largely been blamed on the former executives. The Pension Funds Act permits certain deductions from a member’s retirement fund benefit. According to 10X Investments, a retirement fun...
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