More cake for
Molotsane
ADSL
South Africa (Broadband South Africa), 27 May
2007
Despite all the damage Telkom’s former
CEO, Papi Molotsane, has done and the R5.6 million he
earned in his first six months at Telkom, he and his
legal team is now pushing for another slice of the
cake.
‘Lawyers acting for Telkom’s
former chief executive, Papi Molotsane, are negotiating a
departure settlement for him with the company’s executive
board’ (Telkom’s Molotsane fights for a package, Piliso,
Business Times, 27 May 2007).
In other words, Molotsane has the
audacity to put up a fight despite the fact that even Telkom
couldn’t put up with him anymore.
This comes after ‘Molotsane’s
shock departure from Telkom last month was accompanied by
speculation that he had been frustrated and had been pushed by
the board to leave’ (Telkom’s Molotsane fights for a package,
Piliso, Business Times, 27 May 2007).
How much will he
get?
It’s unclear at this stage but it
can run into millions of Rand taking into consideration the
R5.6 million he got when he started out at Telkom.
‘On Friday, his attorneys, Rosin
Wright Rosengarten, refused to divulge details of the
settlement talks, except to confirm that Molotsane had chosen
to go the legal route to finalise his payout’ (Telkom’s
Molotsane fights for a package, Piliso, Business Times, 27 May
2007).
In other words, his lawyers are
not willing to give us more details at this stage.
According to a partner in Rosin
Wright Rosengarten, Mark Rosin, “Things are at a very sensitive
stage” (Telkom’s Molotsane fights for a package, Piliso,
Business Times, 27 May 2007).
In other words, it can only mean
one thing: Either Telkom is offering Molotsane peanuts or
Molotsane is expecting the goose that laid the golden
eggs.
While we’re not interested in
boring you with the details we’re convinced that Molotsane is
not deserving of any penny coming his way.
ADSL South Africa
(Broadband South Africa) hopes Molotsane and his legal
team get what they deserve and it’s definitely not a
golden
handshake.
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