Johannesburg – Austro Group [JSE:ASO] announced on Thursday
that Charles Jacobs‚ a director of the group and CEO of a subsidiary of the
group‚ Austro Proprietary Limited (Wood)‚ has been dismissed‚ effective
immediately‚ following the outcome of a disciplinary inquiry.
No details were divulged.
The group said that until further notice‚ Jonathan Orde
Freed‚ the managing director of New Way Power Proprietary Limited‚ a subsidiary
of Austro and sister company of Wood would continue to manage Wood as he had
during the period that Jacobs had been suspended from his duties.
“The board of directors are confident that Jonathan will
ensure the enhanced continuation of the business‚” Austro added.
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