Business

Suspended CEO wants P15m from Letlole

Friday, July 24, 2020
Hitting back: Shenjere- Mutiswa
Hitting back: Shenjere- Mutiswa

Suspended Letlole La Rona (LLR) CEO, Chikuni Shenjere-Mutiswa is demanding the payment of P15 million as part of an executive rewards plan, BusinessWeek has learnt.

The board of LLR suspended Shenjere-Mutiswa at the end of May for allegedly abusing the rewards programme, known as the Long Term Incentive Plan (LTIP). The board has since said it has laid charges against the CEO with the police’s Serious Crimes Squad.

This week, however, documents from the suspended CEO’s lawyers indicate that he is fighting back, having given the board an ultimatum to pay him the amount he says he is entitled to.

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