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South Africa: Neotel CEO quits

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Sunil Joshi, Former MD & CEO, Neotel. (Image source: File)
Sunil Joshi, Former MD & CEO, Neotel. (Image source: File)

According to a media statement, issued by Neotel, the company has revealed that its CEO Sunil Joshi has resigned from his position within the company.

According to Neotel, Joshi will be: “Pursuing his own interests, and will resign from Neotel with immediate effect.”

Joshi’s resignation has come shortly after an investigation by the Neotel board cleared him of bribery. This is according to Neotel.

At the end of November 2015 Neotel had revealed that its Chief Financial Officer – Steven Whiley – had resigned from his position. According to Neotel: “As a result of the lengthy duration of the investigation, Whiley has decided to pursue his own interests.”

Whiley as well as CEO Sunil Joshi had been placed on “special leave” after Deloitte had discovered that payments that ventured into the millions, according to the Mail & Guardian, had been made to a company named Homix.

According to the report:  Neotel, Deloitte said, remitted R30-million to Homix in April, 2014 and R36-million in February 2015. Another R25-million was agreed but not yet paid. Each was in respect of contracts being secured with Transnet, a key Neotel customer.

Darryl Linington

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