The drama unfolded during the hearing of the compensation case involving three former Press Corporation Limited (PCL) bosses, as PCL Chief Finance Officer Maureen Mbeye publicly rebuked her boss, CEO Ronald Mangani, for commenting on the case.
The tension began during cross-examination by lawyer John Suzi Banda, representing the ex-bosses, including George Partridge, Benard Ndau, and Elizabeth Mafeni. Mbeye distanced PCL from comments made by the Minority Shareholders of Listed Companies Ltd (MISALICO), which attacked the Industrial Court’s judgment in favour of the ex-bosses.
Mbeye testified that there was no collusion between MISALICO and PCL and that the facts presented in MISALICO’s press statement were incorrect. She also agreed that MISALICO’s publication was improper, as it commented directly on an ongoing court matter.
In a surprising turn, Mbeye criticized CEO Mangani for commenting on the case, stating that it was improper for him to do so. “It was also not proper for our CEO (Dr Mangani) to comment on an ongoing court case,” said Mbeye.
The drama didn’t end there, as Mbeye was questioned about her role as a board member of PCL’s subsidiary, National Bank of Malawi (NBM) plc, and her application for a management position at the bank.
Mbeye denied any conflict of interest, despite applying for a position she ultimately didn’t get and then returning to her role as a board member, supervising the person who got the job. She also revealed that Press Trust, a majority shareholder in PCL, appoints four of the six non-executive directors on the PCL Board.
The court heard that the three ex-bosses are seeking a staggering K34 billion in compensation, and the court’s judgment is pending.
