Connect with us

Hi, what are you looking for?

Business

Letlole, former CEO settle out of court

Letlole, former CEO settle out of court
REACHED SETTLEMENT: Chikuni Shenjere-Mutiswa

Listed property outfit, Letlole La Rona (LLR), and its former Chief Executive Officer (CEO), Chikuni Shenjere-Mutiswa have reached an out-of-court settlement following legal proceedings laid by the company against its former employee.

Last year, LLR suspended and ultimately dismissed Mutiswa after he was charged with three counts of misconduct relating to his conduct surrounding the company’s Long Term Incentive Plan Agreement, the company’s rewards programme.

After he was initially suspended in May 2020, an independent disciplinary panel found the man guilty of his charges and recommended his dismissal a little over two years after he was appointed to lead LLR.

The matter was reported to law enforcement agencies for criminal investigations and the company also instituted a litigation process against Mutiswa.

The CEO and Letlole however have reached an out-of-court agreement.

Though the matter has now been settled, LLR told its shareholders this week that the settlement does not mean admission of liability between the two parties and is a compromise of disputed claims.

Advertisement. Scroll to continue reading.

In reaching the decision, the company told shareholders that it considered some facts and amongst them being that it would be uneconomical to pursue litigation for the company.

The company further disclosed that the ongoing legal proceedings would place enormous pressure to the possible detriment of focusing on LLR matters.

“The decision to enter into a settlement agreement was based purely on commercial reasons and now concludes the civil dispute with Shenjere Mutiswa,” said LLR Board Chairman, Frederick Selolwane.

Selolwane further explained that the board had decided that it was in the best interest of the company and its shareholders to avoid the expense burden and uncertainty of litigation and enable the board to focus solely on the business of the company.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement
Advertisement
Advertisement

You May Also Like

News

Old Naledi Police are investigating two cases in which two men were found dead behind Fairgrounds Mall and Kgale Hill. Kgale death incident is...

Entertainment

Local Poet turned businesswoman Berry Heart is not amused by some people in her circle of friends. This week she spoke out on social...

Entertainment

Shaya has been a close follower of BDP’S former Minister Alfred Madigela. Ali, as his close friends call him this week announced his retirement...

Entertainment

Bringing calm to BBS Following the headline-making boardroom squabbles that engulfed BBS Limited throughout April, Bernard Mzizi was identified as the man to rescue...

Entertainment

Despite his hectic academic schedule, a final-year Baisago University student has still found time to write and publish a book. The impressive Tumelo Abotseng,...

Entertainment

Funnyman Ras Doko has taken social media by storm. His unique brand of comedy has seen his popularity soar. Quiet exceptional considering that he...

Business

An Organic drive on the road to Agric success In this installment of Meet the Boss, Voice Money’s KABELO ADAMSON speaks to Lesego Elijah,...

Business

A guide to eating out in Francistown) The scent of sizzling boerewors drifts across the spacious yard like smoke from a campsite braai and...

Politics

The Botswana National Front (BNF) will embark on a massive recruitment drive as they look to attract new blood to the party. Addressing the...

Entertainment

Popular music producer and singer, Dr. Tawanda, has teamed up with his daughter, 17-year-old Tadiwawanashe Kaisara (Princes Takana) on a Gospel single titled ‘Pagomo’....

Entertainment

40-year-old Thabo Osekeng is one of the most sought-after veteran celebrity sports presenters in the country. As live local football continues to be in...

Entertainment

The Covid-19 pandemic has forced many people, especially those in the entertainment industry, to look elsewhere for a living. One notable figure is Clement...

Entertainment

With close to 200 000 followers on social media pint-sized singing sensation, Dato Seiko has been earmarked as the next big thing in Botswana...

Entertainment

Hot on the heels of her last single, Drum Queen BW (Gonewa Mojumi) is poised to release another track, ‘Banna Wee’. The 25-year-old Serowe-born...

Entertainment

Legendary guitarist, Kapenda Katuta, has released an 11-song instrumental album. Engineered by Alfredo Mosimanegape, the songs were recorded live at Masa Square. The Afro...

Business

CCA approves Puma Energy takeover by Singapore company The Competition and Consumer Authority (CCA) has unconditionally approved the takeover of Puma Energy by Singapore-based...

Advertisement

Copyright © TheVoiceBW. (Since1993) made with ❤️ in Botswana.