Former City Power board chairperson, Reverend Frank Chikane, says they were not surprised that the City of Johannesburg axed the entire board following disagreements on the handling of corruption allegations involving MD Sicelo Xulu.
It was announced this week at the City of Johannesburg’s 2015/2016 annual general meeting that a new board will be appointed.
We expected it because there were differences on how to handle the MD. The shareholder wanted the board to suspend the MD. We said give us info. The information they had was not substantive in terms of law to suspend any body.— Frank Chikane, former City Power board chairperson
From that day since we said no, we have a fiduciary responsibility, we can't act in a reckless way that would cost the company money. We were seen as an obstacle.— Frank Chikane, former City Power board chairperson
There was an indication that when you go to an AGM, we will be replaced.— Frank Chikane, former City Power board chairperson
Listen to the audio below to hear why board did not want to suspend Sicelo Xulu...