Cash strapped PetroSA axes CFO
The company suspended Lindiwe Bakoro in June this year, as it investigated claims of poor performance.
JOHANNESBURG - PetroSA has confirmed it's terminated the contract of its Chief Financial Officer (CFO), Lindiwe Bakoro.
The state-owned oil company suspended Bakoro in June this year, as it investigated claims of poor performance.
PetroSA says it's now former CFO has agreed to part on amicable terms.
A Petro SA spokesperson says, "PetroSA has terminated the contract of the Group CFO. The terms of the agreement are confidential."
A month ago, the parastatal announced its decision to let go of its Chief Executive Officer, Nosizwe Nokwe-Macamo.
Nokwe-Macamo, along with two other top executives, including the CFO, were placed on suspension amid a probe into their performance.
The company's board of directors were of the opinion the three were in part to blame for the multi-billion rand loss made in the last financial year.