Johannesburg - Alexander Forbes Group Holdings announced on Monday that its embattled non-executive director, Moses Kgosana, has resigned from the board effective immediately.
Kgosana, a former chief executive of audit firm KPMG, was due to take up the role of chairman as at 31 August at the financial and risk services provider, but has now withdrawn from this role.
Kgosana was exposed last week in the #GuptaLeaks as having had cosy relations with Atul Gupta during the time when KPMG were auditors of and advisors to the Oakbay Group entities owned by the Gupta family.
According to investigative journalism unit AmaBhungane, the Guptas allegedly laundered money in the region of R30 million earmarked for the Free State Dairy project through their company, Linkway Trading (Pty) Ltd, and KPMG allowed for the money to account for their 2013 lavish wedding as a "business expense".
"Since becoming aware of recently published allegations in respect of KPMG which related to his previous position as chief executive officer and senior partner of KPMG, he believes it is the correct course of action for himself, the company, its clients and shareholders," Alexander Forbes said in a statement on Kgosana.
"Mr Kgosana felt that the demands on his time in the role of Chairman of the company whilst attending to these allegations, will interfere with his deliverable expectations. Alexander Forbes welcomes this decisive action."
Alexander Forbes said the current chairman, Sello Moloko, would remain non-executive chairman in the interim and thanked Kgosana for his contribution as a director over the past two years.