BBS deadlock: Board appoints Kamyuka as acting MD
Mbongeni Mguni | Monday April 12, 2021 17:08
The decision comes after the board won a High Court interim order pushing out MD Pius Molefe and company secretary, Sipho Showa on Friday.
Kamyuka has been on the BBS board for more than ten years and is among five directors whose terms are due to elapse on April 26. The board has resolved that the five directors, who are also seeking new terms, should be given 90 extra days after the April 30 AGM, before a special meeting is held for a new board.
The extension of their terms led to a clash with Molefe, leading to the chair, Pelani Siwawa-Ndai writing letters to dismiss both Molefe and Showa last week. Molefe has said the shareholders should be given the right to choose between the retiring directors and new nominees at the April 30 AGM. The ousted MD has said he will be challenging the High Court order as soon as permissible.
Kamyuka was formerly Botswana Development Corporation general manager (Management Services) before his departure in 2013.