Yog Mahadeo, Guyana Telephone and Telegraph (GT&T) Chief Executive Officer (CEO), has resigned amidst a scandal over payments made by the company.
Former CEOs Major General (rtd) Joe Singh and Sonita Jagan will take over the running of the company. The company announced today that Singh who has been appointed Chairman, will assume the role of acting CEO and Jagan has been named acting Chief Financial Officer. Mahadeo’s exit follows the firing of four officials including the CFO, Royston Rachpaul following an internal audit.
“In the course of a recent review, we found that the actions of some individuals have been inconsistent with our high ethical standards regarding internal business practices and conflicts of interest. Accordingly, the board has decided that it is in the best interest of the company to make some changes in personnel,” Paul Bowerstock, a member of GT&T’s Board was quoted as saying. He said Rachpaul had been replaced along with three additional staff reporting to him.
“Because this failure to adhere to the highest standards of conduct took place on his watch, CEO Yog Mahadeo has determined it is in the best interest of the company for him to resign his position,” Bowerstock said. “We respect Yog’s decision and appreciate the many achievements of the company under his leadership. Over the next couple of weeks, Yog has offered to help ensure that a smooth transition takes place,” he said.
Bowerstock said that with their “extraordinary experience” as former executives of GT&T, Singh and Jagan “will do an excellent job leading the company”. He said the duo will immediately assume their roles with the company. No further personnel changes are planned at this time.
