General financial misconduct, not adhering to shareholder instructions and repetitive legislative non-compliance are among a litany of challenges which lead to the government replacing the South African Nuclear Energy Corporation (Necsa) board.
Energy Minister Jeff Radebe said the challenges at the organisation were so severe that the ministry was left with no option but dissolve the board. The challenges, he said, had continued to hover and were not addressed, despite repeated calls.
The governance issues raised by the minister included:
– repetitive instances of legislative non-compliance
– non-adherence to specific shareholder instructions and/or directives
– financial mismanagement
– remuneration irregularities
– unauthorised international travel
He also accused the board of issuing misleading, inaccurate and/or defamatory media statements on a number of matters sen