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NetOne entire board likely to be fired as evaluation opens can of worms

NetOne CEO

NetOne entire board likely to be fired as evaluation opens can of worms. Following a series of audits which revealed massive financial misdeeds and a negative performance appraisal exercise on the board by the consultancy company, the entire board now faces the boot.

Board members face the axe. Members found to be incompetent. The NetOne board faces the chop after Proserve Consultancy conducted an evaluation on individual board members, finding them to be incompetent, Zim Morning Post can report.

Evaluation documents in this publication’s possession show that the retired chairperson, Joe Mutizwa, was not well versed with how the board operated, including knowledge of the laws that govern it. “With all due respect, the chairman did not seem to be clear on the role of the modern-day board and governance principles that guide the board in its activities,” read the documents.

“He appeared to still have the view of the ceremonial board that does not do much beyond “meeting” and having conversations with shareholders. The role of the board in guiding strategy appeared to be totally lost to him,” read another part.

The rest of the board has been described as dysfunctional and made use of outdated governing techniques which were not appropriate for the modern-day environment.

“I have on many occasions described the board as dysfunctional and believe this is largely attributable to the leadership style which may have worked for yesteryear but not appropriate for today’s fast-paced environment,” he said.

The current confusion at NetOne arose after the Auditor-General, Mildred Chiri, produced a damning report on NetOne chief executive, Lazarus Muchenje’s questionable performance and understanding of the law.

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Source – Zim Morning Post

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