Gupta-linked Pamensky resigns as director of Oakbay board | Fin24
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Gupta-linked Pamensky resigns as director of Oakbay board

May 12 2017 11:51

Cape Town - Gupta-owned Oakbay Resources and Energy announced on Friday that independent non-executive director Mark Pamensky has tendered his resignation, with effect from June 10 2017.

Pamensky is also chairperson of the audit committee and member of the company's risk; nomination; social, ethics and remuneration committees.

"The board of directors, in conjunction with the nomination committee, shall immediately commence the process of appointing an independent non-executive director to fill the vacancy that has arisen as a result of Mr Pamensky's resignation, and shareholders will be advised accordingly in this regard," said Oakbay in a note to shareholders.

Pamensky was appointed to the Eskom board three months after joining Oakbay. He resigned as a board member of Eskom, where he had been a non-executive director since December 2014, less than a week after CEO Brian Molefe quit in November 2016 after the release of the public protector's report on state capture.

Pamensky and Molefe were both subpoenaed to answer to the public protector during her investigation over the influence the Gupta family wielded over government appointments and contracts.

Eskom board spokesperson Khulani Qoma confirmed on Friday that Molefe has agreed to return to Eskom as its chief executive, after the board rescinded his application for early retirement.

He disclosed that Molefe never resigned, but asked for early retirement in November.

“He didn’t resign,” he told Fin24 on Friday. “He applied for early retirement. When he left, it was on the basis of early retirement that was approved by the board."

oakbay  |  brian molefe


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