NetOne with immediate effect has appointed its Managing Director for Mobile Financial Services Nkosinathi Ncube as the company’s Acting Chief Executive Officer.
Ncube’s latest appointment is no doubt the NetOne board’s decision to stabilize operations at the parastatal after the recent suspension of substantive Chief Executive Officer Lazarus Muchenje.
Muchenje has been suspended with immediate effect under heavy conditions of no salary and other benefits. His suspension was invoked by the board after he took a drastic action of firing nine executives without proper consultation with the NetOne board.
Exactly a forty night ago, Muchenje dismissed nine executives which included chief operating officer Brian Mutandiro and chief finance officer Sibusisiwe Ndhlovu. The NetOne board has however ordered a reversal of the firings and reinstatement of the executives citing lack of due consultations.
