MultiChoice’s longest-serving board member has decided not to stand for re-election after the SA government’s investment arm threatened to oppose it.
MultiChoice has announced that long-serving board member John James Volkwyn has decided not to stand for re-election to the Board of Directors .
According to MultiChoice, these consultancy agreements are necessary when a company needs knowledge and skills in a specialist or niche sector, such as pay-TV. Such agreements are terminated if they become redundant. “The scope of his consultancy services is global in nature and involves advising on key group strategies.”
“In approving the consultancy arrangements, the board at all times ensured compliance with corporate governance requirements.” Moroka’s consultancy agreement was terminated in 2023 after she was paid R1.5 million in fees, and shareholders questioned the reasons behind it.
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