The Private Sector Commis-sion will on Tuesday decide if newly elected Chairman of the entity Yog Mahadeo will continue to hold the position, in the wake of revelations which led to his demitting office as the CEO of Guyana Telephone and Telegraph Company and to a number of other senior functionaries being fired.
A senior official of the PSC yesterday disclosed to Stabroek News that the PSC at the upcoming meeting will decide on what basis, if any, Mahadeo could continue to serve in the position to which he was elected on Thursday, the same day it was revealed that he would be stepping down from the helm of the telecommunications company. Sources said that Mahadeo’s position as Chairman of the PSC came under scrutiny after members of the PSC called the body seeking clarity as to the new Chairman and whether it would be proper for him to retain the position considering the prevailing circumstances.
Mahadeo last week Friday resigned as CEO of GT&T after external auditors advised him of a “lapse of internal control” that occurred under his watch.
In the first instance, the company was vague in the announcement of Mahadeo’s resignation, but stated that Chief Financial Officer (CFO) Royston Rachpaul and three others had been dismissed. Rachpaul, internal auditor Sachin Persaud, and Management Information Systems (MIS) personnel Caramchand and Richard Sukdeo were all sent on leave early last month in order to facilitate an audit by GT&T’s parent company Atlantic Tele-Network (ATN).
Paul Bowerstock, a member of GT&T’s board was quoted as saying, “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.” “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.
The company announced in a release last week that former CEOs Major General (rtd) Joe Singh and Sonita Jagan will return to the company. Singh, who has been appointed Chairman, will assume the role of acting CEO and Jagan has been named acting CFO.
