Sunday, September 20, 2020

Letlole la Rona appoints acting CEO

The Botswana Development Corporations’ subsidiary, Letlole La Rona (LLR) has appointed an acting chief executive officer, (CEO) Kamogelo Mowaneng as investigations on the suspended Chikuni Shenjere-Mutiswa continue. 

Following the suspension of Mutiswa in May this year, head of risk management at BDC, Botshelo Mokotedi, was acting LLR CEO on secondment which ended last Thursday. 

The chief financial officer Mowaneng now holds fort in the meantime as the Board completes its investigation into matters relating to the company’s Long-term Incentive Plan. 

The communication to stakeholders from LLR Board chairperson, Boitumelo Mogopa last week said: “Disciplinary process of the suspended CEO, Chikuni Shenjere-Mutiswa, is recommenced following lockdown of the Greater Gaborone COVID zone. The hearing is expected to conclude imminently, and stakeholders will be updated accordingly before the end of September 2020. The criminal investigation into the matter continues.” 

Following the conclusion of an independent forensic investigation early last month (July), the company instituted disciplinary proceedings against the suspended CEO and criminal charges were laid with the Serious Crimes Squad at the Botswana Police.

A committee comprising three non-executive members of the board, who were appointed post the conclusion of the Long-term Incentive Plan (LTIP), have been appointed to institute disciplinary process on behalf of LLR.

In May, the preliminary findings of possible misconduct arising from the investigations relate to circumstances around the company’s LTIP during or around March this year and possible acts or omissions by an individual in a unique position of power.

RELATED STORIES

Read this week's paper

Sunday Standard September 20 – 26

Digital copy of Sunday Standard issue of September 20 - 26, 2020.