In what could be interpreted as a complete victory by the privatization agency Chief Executive Joshua Galeforolwe, the enlarged PEEPA Board has now decided to split the positions of deputy CEO into two.
This is a total reversal of an earlier decision by the board to have Galeforolwe himself share his position with someone else under the designation of Chief Operation officer.
After a long tussle between the board and Vice President Ian Khama, government decided to increase the size of the board by appointing a group of individuals sympathetic to government position.
It was then that a decision was made not only to restore Galeforolwe to the job of CEO from which he had been ejected, but also to stop broaching the idea of having him share it with someone else.
“The next board meeting will not only appoint the transaction advisor for the privatisation of BTC (Botswana Telecommunications Corporation) it will also appoint two new deputy executives to Galeforolwe,” said a PEEPA insider this week.
The appointment of two CEOs puts to rest a long running governance stand off which started with president Festus Mogae recusing himself from the cabinet meeting that decided on the PEEPA CEO as his brother in law was one of the candidates.
After cabinet chaired by Khama reappointed Galeforolwe, the PEEPA Board chaired by Permanent Secretary in the Ministry of Finance and Development Planning Serwalo Tumelo challenged the cabinet decision, saying in terms of corporate law the decision to appoint a CEO was the remit of the Board and not shareholders.
It was then that a bitter board brawl started, reigniting long held grudges amongst the personalities involved.
At one point the Serwalo led Board ordered Galeforolwe out of PEEPA offices and instructed him to return the company car and house as he was no longer the company’s employee.
But in the end Khama, who all along stood by Galeforolwe, won the war when he upped the stakes by appointing one of his friends and prot├®g├®s Blackie Marole who is also Debswana MD together with a cluster of other individuals to neutralize Serwalo and Parks Tafa.