Lionel Matthews appointed NAMCOR’s acting MD amid Mulunga’s suspension
Former Nedbank Managing Director, Lionel Matthews, has been appointed acting Managing Director for the beleaguered National Petroleum Corporation following the immediate suspension of its incumbent MD.
On Tuesday 04 April, the company’s Board of Directors announced the immediate suspension of the current Managing Director, Immanuel Mulunga and the instatement of Matthews.
“We wish to inform our stakeholders that the Board has resolved to place our Managing Director, Mr
Immanuel Mulunga on suspension with immediate effect pending an investigation. We urge the public and the media to respect this process and afford the Board and Mr Mulunga time and space to finalise this process respectfully,” the Board of Directors said in a statement.
The board stated that Mr Matthews has been appointed Managing Director in an acting capacity effective Wednesday 12 April.
The appointment of an external acting Managing Director will allow for objective leadership and an independent investigation, the statement explained.
Meanwhile, the Board has appointed NAMCOR’s Executive: Business Strategy Mr Shiwana Ndeunyema for the interim until such time that Matthews takes office.
“We wish to assure all our stakeholders that the NAMCOR Board is committed to ensuring that issues are
addressed in the interest of the company and the nation at large. We believe that a strong relationship between Board and Management is of paramount importance, and we have committed to putting interventions in place to address these shortcomings to regain the trust relationship and ensure that we operate in a mutually stimulating environment that ensures the execution of our strategy,” the board concluded.