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Boardroom Fight Erupts At POSB As 'Retired CEO Clings' To The job

Boardroom Fight Erupts At POSB As 'Retired CEO Clings' To The job

A boardroom fight has erupted at the People’s Own Savings Bank (POSB) over retired chief executive officer Admore Kandlela’s decision to hold on to the job despite having been paid terminal benefits.

NewZimbabwe.com reports that Kandlela’s bid to remain in the position is being resisted by some board members and senior management at the bank. An anonymous official told NewZimbabwe:

Kandlela was due to go on retirement as far back as 2013, however, through political connections his employment contract kept on being extended since then. Just recently, he was paid all his terminal benefits. He even took with him almost brand-new vehicles which he used during his last tenure.

We were surprised in the last few weeks to unearth that Kandlela is in the midst of negotiating a fresh employment contract and from my understanding, he is set to receive new vehicles and other benefits. This is worrisome since it will elbow out other contestants who are hoping to get the job.

The official added that some high-level officials within the finance ministry are backing his comeback as he is seen as a good linkage ahead of the bank’s privatisation amid suspicion that some political heavyweights want to seize controlling stake.

However, a section of the management and the board are reportedly opposed to the development, hence the emergence of divisions.

Contacted for comment Kandlela said he was still below the legally acknowledged retirement age. He added:

What a pity. This post is being advertised in the press. Watch out this coming week and apply for the post, please. It’s being advertised through Proserve for these complaining younger candidates. There are no unnecessary additions. I am still below retirement age.

He urged NewZimbabwe to have “better facts” when he was asked the rationale behind the bank’s move to advertise a post whose candidate has already been identified.

More: NewZimbabwe


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7 Comments

Ak47 3 months ago

Those who reached retired age kumusha mundotamba nevazukuru moda kurambira pabasa kuita ZANU PF . Law must be for everyone not selective.It seems as if retirement law is for those with low grades . How many employees who go for retirement who have lower grade than him during his time


Doug 3 months ago

Very soon we will be hearing, the CEO of POSB Retired CEO AK.


DSTV 3 months ago

Ini bvunza tinzwe


Tutu 3 months ago

Ko rcs yaimbonzi inoit iya wkamboiconnecter hr.

Kwese 3 months ago

Ko pane maChannels ekuGhana hr aya for example air,season,awake.Pangu pakungobuda epremium free chte

WILLIAM SONBOY CHINEMBIRI 3 months ago

ADMORE KANDLELA RETIRED AND WAS GIVEN HIS RETIREMENT PACKAGE WHICH INCLUDED ALMOST NEW VEHICLES HE WAS USING. HE MUST DO THE HONORABLE THING OF ACCEPTING HIS RETIREMENT.

ADMORE KANDLELA WANTS TO TAKE ADVANTAGE OF CORRUPTED MANAGEMENT SYSTEMS. IF HE IS REEMPLOYED, POSB SHALL BUY HIM OTHER NEW VEHICLES WHICH HE WILL AGAIN TAKE HOME UPON HIS SECOND RETIREMENT. THIS IS UNFAIR TO THE COMPANY. KT IS CORRUPTION WHICH MUST CURTAILED IMMEDIATELY.

THIS IS CORRUPTION IN THE EXTREME. IF THEY HAVE ALREADY DECIDED TO RE EMPLOY HIM, WHY ARE THEY ADVERTISING THE POST ? THESE ADVERTISEMENTS ARE SMOKESCREEN. ADMORE KANDLELA MUST JUST GO.

YOURS FAITHFULLY
CDE KUFA KWANGU ZVAROVA
[ THE BUSH LAWYER ]


Kwese 3 months ago

Guys hapanawo arikushandisa dercorder reKwese hr free of charge pane zvandoda kubvunza?



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