the g spot
Clipping Goliath’s wings
The FM asked the owners of leadership consultancy Metaco to sketch out their main gripe with Comair’s governance
Leadership consultancy Metaco, a small family-owned business, accuses aviation stalwart Comair of reneging on an agreement to buy it out and of "grinding it into the ground" in the process. That’s quite a claim against a company that has been around since 1946, with an enviable track record in showing consistent profit. But Metaco directors Barbara Walsh and Danny Tuckwood have also raised concerns about Comair’s well-entrenched independent board directors, some of whom have served more than three decades, and say the fees it pays its chair and nonexecutive directors are "excessive". The FM asked the Metaco owners to sketch out their main gripe with Comair’s governance …
DT: Martin Moritz, Rodney Sacks, Piet van Hoven and Dr [Peter] Welgemoed have served 40, 39, 46 and 25 years on the board respectively. Their expertise may be valuable — I cannot comment on that — but they cannot be seen as independent...
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.