Kgosana steps down after more #GuptaLeaks
Speculation has followed the resignation of Moses Kgosana after he was linked to a controversial Gupta deal.
Former KPMG CEO and Partner Moses Kgosana has resigned as a non-executive director from the board of Alexander Forbes, effective today.
His decision comes after the country’s regulators for auditors said it would open an investigation into the relationship between KPMG and the Gupta family after reports surfaced at the weekend.
Moneyweb posted a press release from Alexander Forbes Group Holdings Limited, announcing a change to their board of directors.
An excerpt from the press release reads:
“Since becoming aware of the recently published allegations in respect of KPMG which related to his previous position as Chief Executive Officer and Senior Partner of KPMG, he believes it is the correct course of action for himself, the company, its clients and shareholders.
“Mr Kgosana felt that the demands on his time in the role of Chairman of the company whilst attending to these allegations, will interfere with his deliverable expectations. Alexander Forbes welcomes this decisive action.”
This follows the exposition of the relationship between KPMG and the Gupta family after reports surfaced that R30 million in taxpayer money was allegedly used to pay for a family wedding in 2013.
On 13 June Alexander Forbes announced their appointment of Kgosana as the independent non-executive chairman of their board, with effect from 31 August.
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