RON DERBY: Old Mutual falls into SOE graft trap
Moving forward the way the board did was only a guarantee that at some point a conflict would arise. And so it has
The question of bad governance shouldn't be singled out only in reference to public utilities such as Eskom or SAA. One can only imagine how we'd persecute the boards at these institutions, which are drowning in debt we are all invested in as taxpayers, if they had appointed a CEO who had shares in some obscure investment vehicle in which the state-owned enterprise was invested.
When you factor in that the investment company in question was actually founded by the CEO in question, well, I could pretty much write the headline for any one of our major media outlets. It would be considered a dodgy enterprise, quite simply, and eyes would roll as it would be yet another sad story of our failing public institutions...
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