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Fin24 reports that the suspended CEO of Exxaro Resources, Nombasa Tsengwa, has tendered her resignation from the JSE-listed mining company with immediate effect.
In a letter dated 5 February 2025, Tsengwa notified the company of her resignation following "damaging" and "defamatory" charges against her and an "inhumane" investigation that she refused to further subject herself to. In December, she was placed on precautionary suspension pending the outcome of a probe into allegations relating to workplace conduct and governance practices. This followed a newspaper article in which anonymous sources claimed Tsengwa had bullied and intimidated staff, leading to the exit of several executives. ENS was appointed to conduct the investigation into various matters related to her interaction with the board, her failure to obey board instructions, and an anonymous whistleblower complaint against her. In her resignation letter, Tsengwa said she had received a charge sheet on 3 February 2025, outlining two key accusations which, quite unexpectedly, related to her late boyfriend. The first charge of conflict of interest, underpinned by gross misconduct, accuses Tsengwa of advancing the business interests of her late boyfriend’s company. The second charge is for breach of duty of good faith, "underpinned by instructing my then driver to assist my late boyfriend carry out his errands". Tsengwa said there was clearly a predetermined outcome to which she refused to subject herself further. Exxaro confirmed Tsengwa’s resignation, noting that Finance Director Riaan Koppeschaar would remain as acting CEO until the position was filled permanently.
- Read the full original of the report in the above regard by Lisa Steyn at Fin24 (subscription or trial registration required)
- Read too, Nombasa Tsengwa abruptly ends two-decade tenure at Exxaro, at BusinessLive (subscriber access only)
Get other news reports at the SA Labour News home page