Postbank board quits in protest.
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GUEST - Professor Peter Goss; Managing Director of Fi-Fa-C Forensics and Professor of Practice in Corporate Governance at the University of Johannesburg
The entire board of Postbank has resigned in protest over what they described as “external interference, undue pressure, and influence” from the minister of communications and digital technologies minister.
In a letter dated September 12 2023, addressed to minister Mondli Gungubele, the nonexecutive directors of Postbank and its board chair said they had no choice but to resign with immediate effect, citing recent events and unfortunate circumstances between the minister and the board.
The dramatic resignation comes at a time when Postbank is under sharp criticism from MPs over the mishandling of the welfare grant payment that has left thousands of pensioners stranded without money for a week.
The entire board of Postbank has resigned in protest over what they described as “external interference, undue pressure, and influence” from the minister of communications and digital technologies minister.
In a letter dated September 12 2023, addressed to minister Mondli Gungubele, the nonexecutive directors of Postbank and its board chair said they had no choice but to resign with immediate effect, citing recent events and unfortunate circumstances between the minister and the board.
The dramatic resignation comes at a time when Postbank is under sharp criticism from MPs over the mishandling of the welfare grant payment that has left thousands of pensioners stranded without money for a week.
