Today's Labour News

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newsBusinessLive reports that Exclusive Books CEO Benjamin Trisk says he plans to defend his "name and reputation", following his suspension by the board pending the outcome of a disciplinary inquiry.  

Trisk said he was "astonished by the reasons advanced" in a suspension letter served on him, but he would not be drawn on what these reasons were.  According to Trisk, Exclusive Books was trading well "in a very difficult market".  Exclusive Books said chief financial officer Frank Boner would be acting CEO until the disciplinary process was concluded.  "Due to the confidential nature of the disciplinary proceedings, Exclusive Books Group is not able to share more information," the business indicated.  Exclusive Books is majority owned by Global Capital, an investment banking and private-equity firm operating in SA and Australia.  Mark Barnes, CEO of the Post Office, chairs the retailer’s three-member board.  On Monday, Business Day reported that legal counsel for Airports Company SA, Bongani Machobane, was found guilty in a disciplinary hearing of unnecessarily involving it in litigation with Exclusive Books, and withholding pertinent information on this from the board.  Trisk said that this issue was completely unrelated to his suspension.

  • Read this report by Hanna Ziady in full at BusinessLive (paywall access)

Get other news reports at the SA Labour News home page