Three NAC directors resign

THREE directors of the National Airports Corporation have resigned after “ministerial interference” directing the board to rescind a decision to revoke the appointment of the acting managing director/acting chief executive officer of the corporation.
Directors Michael Koisen, Joseph Kintau and Jerry Agus tendered their resignations on Friday stating their reasons in a letter to Civil Aviation Minister Lekwa Gure that he and Finance Minister Rainbo Paita, as nominee shareholders had resolved to revoke the appointment of the acting managing director/acting CEO of the corporation and revert to his substantive position as general manager-commercial.
“A decision that the board made based on the report of the audit, risk and compliance committee of the board (BARCC Report).
“The decision of the board to revoke the appointment of Mr Wasem as acting managing director/acting chief executive officer was arrived at after a lengthy deliberation of the information tabled before the board.
“And under these circumstances, it was in the collective view of the board, the appropriate decision if each of us as individual directors, were to comply with our duties and responsibilities as directors of the corporation.”
The three warned that ignoring the BARCC report and turning a blind eye to allegations had the potential of placing the corporation at a significant financial risk, eroding its corporate governance and compliance processes of corporate best practice.
It would be a breach of their fiduciary duties as directors.
The three directors said that the corporation required stability which they believed the board promoted in its oversight.
Attempts to get comments from Paita and Gure yesterday were unsuccessful.