Quantcast
Channel: News - The Patriot on Sunday - The Patriot on Sunday
Viewing all articles
Browse latest Browse all 2246

Workers capture CEO

$
0
0
Workers capture CEO
The recent drama in Selibe Phikwe where workers of the trouble prone Pula Steel Manufacturing Company captured the Chief Executive Officer Ranvir Verma has shocked most shareholders of the company, The Patriot on Sunday has learnt. Information gathered by this publication shows that shareholders were shocked when they learnt that Verma had been captured by about 100 employees, because their understanding is that the plant has been placed on Care and Maintenance. “Citizen Entrepreneurial Development Agency (CEDA) and other shareholders have all along been under the impression that Pula Steel was under some sort of ‘care and maintenance’ as production has been halted. Therefore they were not aware that close to 100 employees had been reporting for duty; and were owed salaries,” revealed a highly placed source. One of the shareholders CEDA-who hold 26% and also chairs the board rushed to the plant to restore order. CEDA CEO Thabo Thamane and Chief Operations Officer Andrew Madeswi – who is also the board chairman – received the petition and addressed the employees. The petition, which was addressed to the board chairman and signed by over 200 employees, called for the sacking of Verma. Last year BCL as the major shareholder advertised…

Viewing all articles
Browse latest Browse all 2246

Trending Articles