Poor excuse to get rid of Taureka

IN the midst of a failing economy and a poorly managed Coronavirus (Covid-19) pandemic, Papua New Guinea is again being burned from the miscalculated decision of sacking the most competent government business leader in Isikeli Taureka.
His sacking as managing director of Kumul Consolidated Holdings, the holding company of PNG’s State-owned enterprises, on the basis of so-called “non-performance” is perhaps the most mundane excuse the Government could think of in flaunting its bad decision.
When was the last time this Government seriously reviewed performance? Taureka is one of the few names on the top of the list in best corporate leadership in the world because his performance is par excellent.
It’s ironic when people who lack the business acumen or had never managed a business to easily
strike down reputable business leaders just because they have the power.
Taureka served in various executive and non-executive positions prior to KCH and the recent one being as Kina Bank chairman.
His trail-blazing career in top business management involving blue chip companies includes Chevron, ExxonMobil, Inter Oil Corporation and New Crest that spans across continents – from the US to Australia, Thailand and China.
Isikeli, or “Keli”, is our proud flag bearer who, unfortunately, has become the latest victim in a smear campaign by politicians.
Keli’s father is prominent Papua New Guinean politician, Sir Reuben Taureka, and his mother, a Fijian, is Akanisi Vunitiko Vuetivavalagi.
His experience also includes managing the PNG-owned Post and Telecommunication Corporation, senior management roles at Bank of South Pacific Ltd, and deputy managing director at Resources Investment Finance Ltd.
He holds a bachelor of economics degree from the University of Papua New Guinea and is a graduate Member of the Australian Institute of Company Directors.
The sole reason for Taureka’s sacking is most probably related to the control of SOEs, especially with the elections coming up and all Government “wells” are drying up.
The SOEs have been what the former prime minister, the late Sir Mekere Morauta, called a corrupt government’s ideal “honeypot” when instituting reforms to insulate from political expediency.
Sacking high performing business leaders for sheer political expediency can potentially dissuade other credible Papua New Guineans to join and contribute meaningfully in state controlled organisations.

David Lepi