Rob Rose Editor: Financial Mail

High noon looms for construction company Group Five as a precedent-setting vote to install an entirely new board of directors will take place on Monday.

The meeting was called by 25% shareholder Allan Gray, whose director, Andrew Lapping, said he had "lost confidence" in the board — the first time a shareholder has taken such a bold step. Ahead of the meeting, Group Five’s board, led by chair Philisiwe Mthethwa (wife of arts & culture minister Nathi Mthethwa), promptly resigned.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

**Promotion:  Standard Bank is giving new subscribers three months free* when they take up a BL Premium subscription.
*Read more (Ts & Cs apply) or click “Subscribe” below to continue.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00.