PetroSA's Group CFO, Lindiwe Mthimunye Bakoro, who was suspended and placed on special leave a few weeks ago, has officially been relieved of her duties, effective 30 November 2015.
According to the group, Bakoro's suspension has been lifted and the parties have reached a mutually acceptable agreement regarding the termination of her employment. PetroSA says the terms of the agreement will remain confidential.
PetroSA's Group CEO, Nosizwe Nokwe-Macamo, faced similar action, under similar circumstances, several weeks ago. Bakoro and Nokwe-Macamo, along with a third executive, were placed on special leave while an investigation into their performance and declining revenues at the firm was undertaken. PetroSA reported a significant loss of R1,2bn during the 2013/14 financial year.
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