Staff Writer
HOSKEN Consolidated Investments (HCI) has suspended its executive chairman, former unionist and MP Marcel Golding, pending a disciplinary hearing on allegations of gross misconduct.
Golding has served papers on HCI and is going to the Labour Court to challenge his suspension. HCI said it would oppose the action.
The black empowerment firm said a sub-committee – mandated by its board and comprising its lead independent non-executive director and the chairmen of its audit committee and social and ethics subcommittees – had found the alleged misconduct “to be of a serious nature” warranting action.
Golding would not be drawn last night, but provided a copy of his papers.
The papers say he was not given a chance to say why he should not be suspended.
No reasons were given for his “degrading” treatment. There was no reason to conclude his presence at work posed a threat to the business or might hamper the probe.
HCI said it would take whatever steps it saw fit to protect it interests.
Chief executive John Copeland said: “I am terribly saddened to see Marcel in the difficulties in which he finds himself.”
The SA Clothing and Textile Workers Union, which has a stake in HCI, said it would respect the board’s decisions.