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Posted 2009-03-13 18:03:37  
GOLD CIRCLE HEAD RESIGNS

Gold Circle has completed its independent assessment of the financial sustainability of the company in going forward.

It is necessary for the directors to reiterate their previous statement, that neither the CEO of the company, Mr Michel Nairac, nor any other of Gold Circle’s senior executives were suspected or stand accused of any fraudulent activities.

Gold Circle’s Board of Directors sincerely regrets any negative inferences that may have arisen in relation to Mr Nairac from the instigation of the previously mentioned assessment.

Notwithstanding the above, Mr Nairac has decided to tender his resignation.

Gold Circle wishes him well in the future and looks forward to maintaining both cordial and business relations with him.

 

 
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Displaying 6 Results
Barry Irwin, United States, (2009-02-21 04:50:41) (1061 days ago)
I think I just wet my pants.
Stephane de Chalain, Mauritius, (2009-02-18 17:33:21) (1061 days ago)
Very sorry to hear the news, wishing u all the very best for the future Michel. A door closes another one opens . Its definitely their loss
h witz, South Africa, (2009-02-24 16:11:31) (1061 days ago)
good riddens,if they waited any longer the company would have gone clean out..he wasnt qualified for the job in the first place..his closed door policy said it all..cheers hope you never come back
Russell, South Africa, (2009-03-14 16:36:59) (1060 days ago)
Friday the 13th has not been a good day for SA Racing. Despite the negatives, Nairac has done more to build the industry than any of his predecessors every did. Now to see what happens with David Furness? I hope the decision makers have thought this one through very carefully... it's easy to get rid of people but hard to replace years of experience and knowledge gained at the coal face. Oh to have been a fly on the wall in the Board room where the discussions took place to get the real facts. How do you put two senior guys on leave to undertake an independent assessment - read "investigation" - when there's allegedly no wrong doing. It's a bit like - let's get them out the way, then dig till we find something innocuous that we can trump up and pin on them to force them to "resign" - smells like horseshit to me...
Neil Bruss, Saudi Arabia, (2009-03-15 06:37:55) (1060 days ago)
I wish I could get a drink in this place; it's VERY DRY.
Bruce Morison, United Kingdom, (2009-04-03 15:25:19) (924 days ago)
Come on Gold Circle, who are you trying to kid. Its about time that the gravy train came to a halt !! Well done, now for going forward >>>>>
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