Neethling, who will earn R1 a month as acting CEO, has also been appointed as chief transition officer, tasked with a rapid transformation of a group still trying to put its debt problems behind it.
The Unemployment Insurance Fund’s R1.37-billion investment in troubled consumer goods group Bounty Brands was effectively wiped out following a series of defaults on debts. But mere months before the crisis, an offshore company in businessman Gary Shayne’s Coast2Coast group along with o.