SLAP ON THE WRIST

Finweek English Edition - - INVESTMENT -

Pioneer Foods re­sults con­tinue to be hit by com­pe­ti­tion fines with an­other R217m paid in this f inan­cial year (over 20% of op­er­at­ing prof­its) and a fi­nal R217m due to be paid this month. It still amazes me that af­ter protest­ing their in­no­cence and ef­fec­tively be­ing fined some R1bn, se­nior man­age­ment re­tained their po­si­tions. Most sen­si­ble com­pa­nies would fire any ex­ec­u­tives who cost them R1bn in fines.

Naspers Lim­ited

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