According to recent reports Neotel CFO, Steven Whiley, has resigned with immediate effect to pursue his own interests.
The resignation comes after a four month investigation into alleged corruption has cleared him of misconduct.
“As a result of the lengthy duration of the investigation, Mr Steven Whiley has decided to pursue his own interests, and will resign from Neotel with effect from November 30,” the Johannesburg-based company said in a statement.
Whiley was placed on “special leave”, along with Neotel CEO Sunil Joshi, at the beginning of August while the company investigated their involvement in alleged bribery and corruption in connection with a Transnet deal worth R1.8 billion.
Whiley “complied with this process,” Neotel said. “With the information currently at its disposal the board is satisfied that Steven Whiley has at all times acted with integrity.”
Neotel has consistently declined to comment on the progress of the investigation since the news broke.
Non-executive director, Kennedy Memani, has been acting as custodian and providing interim executive oversight while the CEO remains on leave.
Vodacom meanwhile has said it is in discussions with Neotel around restructuring the proposed R7 billion takeover deal and has until early December to tell the Competition Tribunal whether the deal will go ahead.