Tuesday, February 01, 2011

Fijian Holdings Ltd Pair Resign

Posted on Coup Four Point Five - 01 February 2011

Qoro and Kaloumaira's sacking puts new light on Aziz's FHL resignation

The terminations of the CEO and chair of the board of Fiji Holdings Ltd begs the question - so why did Brigadier General Mohammed Aziz resign as deputy chair?

Aziz's sudden resignation was covered by the local media and Coupfourpointfive on January the 19th and the 20th.

He told media he resigned because of  "personal reasons", but the tight lipped reply created more questions than answers. Why would he give up a lucrative board position? 

Word on the ground was he'd fallen out of favour with the hierarchy because of his dodgy business dealings.

We now know there have been major irregularities at Fiji Holdings Ltd, hence the departure of the CEO, Sereana Qoro and board chairman, Isoa Kaloumaira. The board may yet go, too.

Both Qoro (left at a shareholders meeting in 2009) and Kaloumaira (right in the picture below) should face criminal charges, along with anybody else who has ripped off the company - that's standard practice in most legitimate countries.

It appears, though, the pair - and Aziz - have been allowed to 'resign', to avoid another public shaming for the regime, who appointed them in the flush of its 'clean up campaign.'

Footnote: Aziz and Qoro were appointed by the regime in June 2008 (see the FHL website for the board statement) which said in part: "We would like to reassure our shareholders and investment partners that their interests remain our paramount focus as has always been."
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