Not above the law

Finweek English Edition - - Front Page -

WHAT HAP­PENED FOL­LOW­ING THE Com­pe­ti­tion Com­mis­sion’s in­quiry into al­leged col­lu­sion at Ad­cock In­gram, Tiger Brands de­cided to take se­vere action against cer­tain mem­bers of its man­age­ment. CEO Peter Mat­lare said the per­son­nel con­cerned would, among other things, lose R19m of share op­tions. How­ever, the com­pany was sat­is­fied with the rec­om­men­da­tions made by the re­port. BUSI­NESS RE­PORT said that Tiger Brands’ firm steps fol­low­ing the find­ings of its le­gal firm al­lowed it to re­gain its re­spect. Full marks to Mat­lare for his re­ac­tion to the re­port, which in­di­cates it’s ac­cept­ing re­spon­si­bil­ity, the pa­per said. There was also a les­son to be learnt from the mat­ter, The Star said – that the wrong re­sponse by man­age­ment can cause im­mense harm to rep­u­ta­tions.

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