Chief executive of e.tv and eNCA, Marcel Golding, announced his resignation to staff on Monday, the broadcaster reported.<\/p>\n
He informed staff that he had no choice but to resign, but added that the fight was not over yet, eNCA online reported.<\/p>\n
Golding was last week suspended as executive chairman of Hosken Consolidated Investments (HCI), which has a 63 percent stake in e.tv.<\/p>\n
Golding appealed against his suspension in the Labour Court and lost the application on Monday morning.<\/p>\n
On Thursday, HCI said it was suspending Golding pending a disciplinary inquiry into allegations of gross misconduct.<\/p>\n
According to eNCA, HCI accused Golding of an unauthorised share trade, saying he did not have board approval to acquire shares worth R24 million in technology company Ellies.<\/p>\n
Golding reportedly claimed he was being ousted in a battle for control of e.tv’s editorial independence.<\/p>\n
HCI denied this, saying the issue was the unauthorised share trade. HCI director Barbara Hogan resigned at the same time, according to the report.<\/p>\n
She reportedly cited the fact that a probe into the Ellies share transaction unfolded in an unprofessional way, and that major e.tv shareholder, the SA Clothing and Textile Workers’ Union, had issues with e.tv’s editorial practices.<\/p>\n
HCI has stakes in businesses including gaming and leisure, media and broadcasting, transport, energy, and property.<\/p>\n
SABC COO to appeal court-ordered suspension<\/a><\/strong><\/p>\n