“Ailing” CEO quits Guptas’ Oakbay
by SAVIOUS KWINIKA
JOHANNESBURG – OAKBAY Investments Chief Executive Officer, Nazeem Howa, has resigned with immediate effect citing ill-health.
Ronica Ragavan, the current Financial Director of Oakbay, will assume the role of Acting Chief Executive Officer, while the the company searches for a permanent successor.
Oakbay thanked Howa for his “outstanding” contribution to the company since joining in 2010 and wished him well in his recovery.
The resignation comes after Finance Minister Pravin Gordhan revealed, in a court application, how R6,8 billion in “suspicious and unusual transactions” may have contributed to the decision by South Africa’s major banks to close accounts associated with the controversial Gupta family.
– CAJ News
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