PIC welcomes decision to declare two former VBS directors delinquent
The PIC has welcomed a court decision to declare its former employees implicated in the VBS Mutual Bank saga ‘delinquent directors’.
The ruling means that former employees Ernest Nesane and Paul Magula are disqualified from serving as company directors.
Nesane was the PIC’s former executive head for legal counsel, governance and compliance.
Magula was the corporation’s former executive head for risk management.
BREAKING: The Gauteng North High Court declares its former employees and representatives on the Board of VBS bank delinquent directors. Head for Legal Counsel, Governance and Compliance Ernest Nesane, former Executive Head for Risk Management, Paul Magula, declared delinquent.
— Heidi Giokos (@HeidiGiokos) August 26, 2019
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Source: eNCA
