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âI have been caught in the crossfireâ: Sbu Shabalala
He reiterated that the allegations against him are ‘without merit’ and said the best way to deal with them is ‘through the judicial system’. 10:01
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Adapt IT CEO Sbu Shabalala said on Tuesday that the serious allegations levelled against him in a weekend newspaper report are âwithout meritâ.
Shabalala has taken a leave of absence from Adapt IT for three months to âattend to personal mattersâ, the company said in a statement to investors on Monday.
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Adapt IT shares tumble as CEOâs reputation is questioned
By Sandile Mchunu
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DURBAN - ADAPT IT S share price fell by more than 13 percent on the JSE yesterday after media reports about its chief executive - Sbu Shabalala - emerged which have dented his reputation.
Shabalala has been cited in the weekend media as having allegedly hired armed thugs to beat the partner of his estranged wife.
Adapt IT said it had granted Shabalala leave of absence, at his request, for three months with effect from May 10, 2021 to attend to personal matters.
Tiffany Dunsdon, chief commercial officer, would assume the role of interim CEO for the next three months.
In the interim, Adapt IT CCO Tiffany Dunsdon will take Shabalala’s place. A statement from the company revealed that Shabalala would step down from his role for three months.
“Tiffany assumes the role of interim CEO as Mr Sibusiso Shabalala, the current CEO, has been granted a leave of absence for three months by the board in order to attend to personal matters.”
According to
TechCentral, the developments come after “serious allegations emerged at the weekend in which Shabalala is accused of hiring armed thugs to threaten Neo’s partner, suspended eThekwini city manger Sipho Nzuza”.
Nzuza reportedly remains in intensive care at a Durban hospital following the attack.
Adapt IT CEO Sbu Shabalala issues statement regarding his extended leave
I would like to clarify my leave in context to the allegations made.
I have decided to take extended leave.
The last five months have been some of the most difficult of my life. After more than 15 years of the relentless work of building a JSE-listed entity, I need a little respite. Time for rest and self-care while I deal with personal battles.
I’ve had family tragedies, at a time when the business is going through its most important business lifecycle.
In the midst of this, I am now being accused of violent and uncharacteristic behaviour, in what is clearly an unrelated attack. I have been caught in the crossfire.
Adapt IT boss takes leave, says allegations are without merit 11 May 2021 - 14:20 By Tania Broughton Adapt IT CEO Sibusiso Shabalala has taken a leave of absence. File photo. Image: Masi Losi
JSE-listed Adapt IT’s CEO Sbu Shabalala has confirmed he has taken “extended leave” to rest while he deals with “personal battles”.
This after his company announced on Monday that he would be taking three months leave.
The decision was prompted by an urgent application in the Durban high court launched by his estranged wife, Neo Shabalala, in which she claimed he and five “heavily armed men” had stormed her Zimbali home on the morning of May 1, and severely assaulted her new partner, suspended municipal manager Sipho Nzuza.