EDITORIAL: When a CEO falters
Bytes Technology is a wake-up call for companies to be watchful on governance, even at the top
23 February 2024 - 05:00
Bytes Technology has lost its CEO after he failed to disclose several trades in the company shares. Neil Murphy’s resignation is a blow to the firm’s reputation and raises questions about the adequacy of its governance and compliance systems.
Murphy, who has been with the company since the late 1990s, admitted to making a number of trades in the company’s shares, without informing the board or the market. It is not unreasonable to assume that Murphy was aware of the rules and regulations governing share trading by directors and employees, and the potential consequences of breaching them. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.