Choppies Enterprises Chief Executive Officer (CEO), Ramachandran Ottapathu has this week suffered another setback in the continued battle between him and the former President Festus Mogae.
Ramachandran was suspended a fortnight ago by the board reportedly based on recommendations by a certain law firm in South Africa, owing to the recent troubles facing the retail giant. To fight back his suspension, Ottapathu embarked on a mission to lobby Choppies shareholders in a bid to overturn the board’s decision.
However, on Monday this week, Choppies Board in an internal shareholder statement seen by this publication, announced that Ottapathu has no right to call an Extra Ordinary Meeting (EGM) as the requirements of the Companies Act, formal and proper notice of such an EGM must come from the Board.
This publication has learnt that the board has not taken kindly statements by Ottapathu that his suspension was as a result of disagreements with certain board members and/or because he had presented a report that calls for changes in governance at Board and company level.
The board indicated that the decision by the board to suspend Ottapathu was as a result of an aggregation of activities and conduct by the suspended CEO which its investigations are still ongoing.
In the board stated in the announcement that the CEO’s suspension was and is valid and proper. They further stated that Ottapathu’s rights and entitlements under the Botswana law have not been infringed and remain protected as would those of any employee of the company.
“As the suspended CEO remains an employee of the company during the period of his suspension, such rights and entitlements do not extended to unauthorized disclosures by him of information relating to the Board and the company which may form basis of disciplinary proceedings against him.”
The order of the board highlighted that they were made aware of a document purporting to be a draft notice of an extraordinary general meeting (EGM) of shareholders of the company sent by Ramachandran in his capacity as a shareholder to select shareholders. However, the Choppies supremo believes what triggered suspension was a proposal he had submitted to the company board to have Mogae removed as Board chairman, and also have new faces with relevant retail experience in the board. “At his age, he need to know the impact on his productivity level. He was sick also. He has been missing a lot of board meeting until last year September,” Ottapathu said of Mogae in an interviewa fortnight ago.
The suggestion reportedly irked Mogae and the rest of the board, save for Farouk Ismail, who then moved swiftly to have Ottapathu suspended. Choppies board, which is constituted of seven member, including Ottapathu himself had majority to effect the decision, as only Ismail opposed the resolution. “I came up with suggestions to the board at the request of the shareholders to have restructuring of the board; issues around chairman’s independence. This was not started by me, but when I suggested changes, some people in the board got annoyed,” narrated Ottapathu.
“They gave me an option, you resign now or we are going to suspend you. I was not prepared to do that. This is the company I started, and they did not even have a replacement. Before I received my suspension letter it was on the social media.” The Choppies chief said if it all the decision to suspend him has anything to do with personal vendetta, the decision to suspend him was not in the interest of the company.
“They have been reckless. They do not have the interest of the company at heart that one is for sure, because someone reasonably thinking cannot do this.” Ottapathu said one of the key reasons he wanted the board restructured was the verity that the company was growing, therefore creating necessity for change. “This is one of the fastest growing company in the region. We needed retail or relevant experience in governance, and in the audit committee and in other areas,” said Ottapathu. “I did discuss with the chairman two years ago about relinquishing the power. He said give me time, I will think about it, and I will make the right decision. But he did not do that.”
Choppies was founded by Ismail in the 1980s and was joined by Ottapathu in 1992. Ever since then, the duo built the company into a dominant player in the country and the South African Development Committee (SADC) region. Ottapathu, Ismail and Choppies employees collectively owns 46 percent of the company stock. Institutional investors owns about 26 percent, while the rest is owned by the public. Ottapathu is of the opinion that the Choppies board, which he said played no role in building the business, are behaving they way they do because they have nothing to lose.
“For them they have nothing to lose. They lose this position of board, they can sit in another board. I do not have any other thing to do in my life. I do not want another entrepreneur to have the same experience that is why I am going to fight it until the last end. I want to set it as an example to make sure it does not happen in another board room.”
After falling to close the gap on Arsenal by losing to a record breaking goal by Kane at the Tottenham stadium.Manchester City now find themselves being charged by the Premier League with more than 100 breaches of its financial rules following a four-year investigation.
According to BBC , it has referred the club to an independent commission over alleged rule breaches between 2009 and 2018 , and also that Man-city has not been co-operating since the investigation which started in 2018 .
BBC further states that The commission can impose punishment including a fine , points deduction and expelling the club from the Premier league.
The alleged breaches include , breaching rules for requiring full details of manager remuneration,from 2009-2010, to 2012-2013 seasons when Roberto Mancini was in charge . Also player remuneration between 2010-2011 and 2015-2016.
The Premier league stated that City breached rules related to UEFA regulations , including Financial Fair Play , from 2013-2014 to 2017-2018 ,as well as Premier League rules on profitability and sustainability from 2014-2016 to 2017-2018
South Korean Ambassador in South Africa has donated e-learning equipment through Botswana Red Cross Society (BRCS) to Tlamelong Rehabilitation Centre in Tlokweng recently, in a bid to fine tune the student’s textile skills.
When talking at the handing over ceremony, Chull-Joo Park, said they agreed with BRCS to give out e-learning equipment to better the training skills of students living with disabilities.
“With the Information and Communication Technology (ICT) equipment and job training skills, we will be able to help the students living with disabilities to do e-learning and to better their education and job training,” said Chull-Joo Park.
It was revealed that the South Korean Embassy approached BRCS with the intent to donate equipment and educational material that includes an embroidery machine, photo copier machine, tablets and interactive boards to be utilized by the trainees.
The industrial printer is a machine that works with embroidery machine to print designs for clothing and it will enable the learners to have more material available to them to facilitate learning.
Through this embroidery machine, students will be exposed to better technologies which ultimately improve the quality of materials they produce. It will also allow students to learn business skills and run profitable ventures.
Smart board gadgets will provide the students with an elevated learning process to be fostered by e-learning. The gadgets provide a more visual element to the learning process, which in turn improves learner mental retention.
Tlamelong Rehabilitation serves the marginalized and underserved less privileged persons living with disability in Botswana. The center offers boarding services, vocational training, social services, physiotherapy and rehabilitation services for young people living disabilities aged 18-35 from across the country over a period of two (2) years per cohort which has a maximum intake capacity of 35. BRCS through International Federation of the Red Cross and Red Crescent Societies (IFRC) have managed to create great working synergy with the South Korean Embassy in Pretoria based in South Africa to support or augment the National Society’s Rehabilitation Centre’s learning challenges.
For his part, BRSC Secretary General Kutlwano Mokokomani said they are delighted to convey their gratitude as BRSC to the South Korean Embassy for donation and they look forward to an enduring partnership for such worthy causes.
“South Korean Embassy’s great gesture will enable trainees to thrive, to fulfil their dreams to become a reality as this equipments will go a long way in creating great impact in the lives of trainees and their families. We wish to convey our sincere gratitude to the South Korean Embassy for their noble gesture of donating the E-learning equipments.”
BRCS offers rehabilitation services spread across three (3) areas in Botswana being Sefhare Stimulation center in Sefhare, Tshimologo stimulation center in Francistown and Tlamelong rehabilitation center in Tlokweng.