The Pretoria High Court has dismissed an application by Transnet’s former director Seth Radebe who sought an order to set aside a decision by Public Enterprises Minister Pravin Gordhan to oust him from the company's board.
Radebe was removed from his position in May this year when Gordhan dissolved the board.
Karima spoke to Head of Legal Services at the Department of Public Enterprises Advocate Melanchton Makobe, to get reaction on the matter.
As a board member you have got fiduciary responsibilities in terms of the companies act, to act in the best interest of the company. Mr Radebe was not only a board member but he was a chairperson of the audit committee which was responsible for investigations.— Melanchton Makobe, Head of Legal Services at the Department of Public Enterprises
There was an investigation that was done by Werksmans Attorneys on certain actions that needed to be taken. The previous board of Transnet and the audit committee headed by Mr Radebe did not take those actions, so that is failure to adhere to the fiduciary responsibilities...— Melanchton Makobe, Head of Legal Services at the Department of Public Enterprises
Click on the link below to listen to the full conversation....