eTV's Golding resigns

Marcel Golding has written to staff explaining he plans to pursue an unfair dismissal claim against HCI.

Marcel Golding. Picture:Gallo Images/Financial Mail/Jeremy Glyn.

CAPE TOWN - ETV Chief Executive Marcel Golding has resigned.

He has written to staff explaining he plans to pursue an unfair dismissal claim against eTV's holding company Hosken Consolidated Investments (HCI).

Golding was suspended by HCI for buying shares in electronics company, Ellies, worth R24 million apparently without board approval.

Last week, Golding brought forward an urgent application to stop a disciplinary hearing against him for apparently buying shares without board authorisation.

But that application was dismissed by Labour Court Judge Anton Steenkamp earlier today.

While handing down his ruling, Steenkamp spent some time interrogating the various employers of Golding.

In his urgent application, Golding claimed HCI had no right to suspend him because he has no formal written contract with the company.

But Steenkamp countered Golding was being paid more than R480,000 a month by HCI.

Steenkamp also questioned whether the application could be called urgent if took Golding nine days since he was informed about his disciplinary hearing to approach the court.

Golding hit back saying the disciplinary action follows months of editorial interference by HCI in support of President Jacob Zuma's government.