Corporates are secretive beasts. Those pulling the levers of power prefer discretion, ever aware of reputational risk, ever fearful of scandal. So embedded is this culture that rather than expose ugly truths, miscreant executives are often given the opportunity to leave quietly provided they hold their tongues. The over-used term of someone leaving “to pursue personal interests” can hide a multitude of sins – usually reinforced by tight confidentiality contracts.
It’s little wonder, then, that the media has been enthralled by the very public PPC saga. But even here the truth is only being revealed slowly. Like the peeling an onion, after one layer has been dispensed does a new one appear. On our CNBC Africa Power Lunch show yesterday, an entirely fresh perspective was revealed.
PPC chairman Bheki Sibiya was first up, swinging like a prize-fighter at his former CEO Ketso Gordhan. It was fascinating. As was the interview which followed with a now fired-up Gordhan, the man who wants to sack Sibiya and his entire PPC directorate at the Special General Meeting on December 8th. Neither is bothering to disguise that the centrepiece of the affair is group CFO Tryphosa Romano. It now emerges she applied for the CEO job ahead of Gordhan’s arrival and, the way he puts it, white-anted him ever since he got the nod ahead of her. A very human story. Which business, at its core, always is.
Yesterday’s top stories
