/ 3 July 2006

Johncom CEO in hot water over BEE hitch

Johncom CEO Connie Molusi is to decide on Tuesday whether to accept an ultimatum to leave Johncom voluntarily as chief executive, reports Business Day.

It said that Molusi had had several run-ins with chairperson Mashudu Ramano over the company’s black economic empowerment (BEE) strategy.

Media reports on Sunday said Molusi faced possible dismissal over an alleged attempt to block an empowerment deal.

The deal involved leading business figures Cyril Ramaphosa, Patrice Motsepe and Tokyo Sexwale, and would see Johncom merging activities with media counterpart Caxton.

Caxton chief executive Terry Moolman is to take charge of the envisaged merged entity.

Neither Molusi nor Ramano would comment on Sunday. Moolman was understood to be angered at delays by Johncom management in moving their printing to Caxton from Independent Newspapers, Business Day reported. – Sapa