ROB ROSE: Secrecy over Sbu Shabalala’s exit
Adapt IT won’t reveal what Webber Wentzel found when it probed whether the CEO ordered an assault on his estranged wife’s partner
It’s probably a good thing that Canadian technology investor Volaris is set to buy out and delist Adapt IT from the JSE. It’s an elegant way for Adapt IT shareholders, who’d witnessed the shoddy way it has handled the thuggery claims against founder Sbu Shabalala, to call it quits.
Adapt IT’s ordeal provides a template of how not to handle a scandal — specifically, it’s a cautionary tale of why your annual report shouldn’t brag about "transparent communication", when you manifestly fail to live up to it...