Only two board members left at beleaguered PetroSA - report
7 June 2017
Cape Town – The Central Energy Fund declined to comment on Wednesday on a report that four of the six remaining board members of PetroSA tendered their resignations.
BusinessLive reported that the resignations of now interim board chairperson Wilfred Ngubane, Thami Hlongwa, Johlene Ntwane and Banothile Makhubela have left the state-owned entity with no quorum as the former eight-member board needs a minimum of three members to reach decisions.
“Consistent with our attitude, we will not comment about internal processes about PetroSA and any of our subsidiary entities, such until such time that the CEF feels it’s necessary,” was CEF spokesperson Jacky Mashapu’s official response to Fin24 on the matter.
According to BusinessLive, the four resignations came after CEF chairperson Luvo Makasi in a letter asked the PetroSA board members to resign with immediate effect, or give oral representations at the entity’s annual general meeting as to why they should remain in their positions.