Gunship
4th Sep 2005, 13:06
TOMMY Oliphant this week vacated his seat as chairman of the Airports Company South Africa.
The shock announcement was made at the parastatal’s annual general meeting on Friday.
Just three days earlier Acsa released its financial results for the year ending March 2005, announcing a capital expenditure budget of R5.2-billion to be spent over five years in preparation for the 2010 Soccer World Cup.
Yesterday, the Department of Transport said Oliphant had voluntarily withdrawn his name for reappointment.
“Mr Oliphant did not make himself available to serve on the board, citing that he wanted to pursue his business interests,” said Collen Msibi, spokesman for the department.
Transport Minister Jeff Radebe subsequently accepted Oliphant’s decision and promptly appointed the company’s non-executive director Franklin Sonn in an acting capacity.
Oliphant, who took the top post in September 2003, yesterday told the Sunday Times that he was concerned that his business interests would interfere with his duties at Acsa.
The former chairman owns a 25% shareholding in Partners International, a company that has three contracts with Acsa, worth a total of R10-million. His company is also bidding for an R80-million tender to supply Acsa with boarding bridges.
Aware that his company’s latest bid posed a conflict of interest, Oliphant this week arranged a meeting with Radebe.
“In the interests of Acsa and the board, I thought it was only appropriate for me to withdraw myself from the board,” said Oliphant, adding that when he joined the board, he had disclosed his business interests.
Oliphant, a former general-secretary of the Metal and Electrical Workers Union of South Africa, is
also former chairman of Aventura, a state-owned holiday resorts company, and a director of Johnnic Holdings. — Simpiwe Piliso
Missing Boss (http://www.sundaytimes.co.za/articles/article.aspx?ID=ST6A139085)
The shock announcement was made at the parastatal’s annual general meeting on Friday.
Just three days earlier Acsa released its financial results for the year ending March 2005, announcing a capital expenditure budget of R5.2-billion to be spent over five years in preparation for the 2010 Soccer World Cup.
Yesterday, the Department of Transport said Oliphant had voluntarily withdrawn his name for reappointment.
“Mr Oliphant did not make himself available to serve on the board, citing that he wanted to pursue his business interests,” said Collen Msibi, spokesman for the department.
Transport Minister Jeff Radebe subsequently accepted Oliphant’s decision and promptly appointed the company’s non-executive director Franklin Sonn in an acting capacity.
Oliphant, who took the top post in September 2003, yesterday told the Sunday Times that he was concerned that his business interests would interfere with his duties at Acsa.
The former chairman owns a 25% shareholding in Partners International, a company that has three contracts with Acsa, worth a total of R10-million. His company is also bidding for an R80-million tender to supply Acsa with boarding bridges.
Aware that his company’s latest bid posed a conflict of interest, Oliphant this week arranged a meeting with Radebe.
“In the interests of Acsa and the board, I thought it was only appropriate for me to withdraw myself from the board,” said Oliphant, adding that when he joined the board, he had disclosed his business interests.
Oliphant, a former general-secretary of the Metal and Electrical Workers Union of South Africa, is
also former chairman of Aventura, a state-owned holiday resorts company, and a director of Johnnic Holdings. — Simpiwe Piliso
Missing Boss (http://www.sundaytimes.co.za/articles/article.aspx?ID=ST6A139085)