PNG Power Limited Chief Executive Officer, John Tangit, has been suspended on allegations of impropriety.
In a statement this afternoon, the PPL Board of Directors said they had resolved to suspend Mr Tangit, following the receipt of what they describe as ‘serious’ allegations.
The suspension was effective as of Monday, March 10, and the Board resolved to appoint a chartered accounting firm to undertake investigations into the allegations and provide a detailed report to the Board.
Following the investigation the board will decide on appropriate steps to appoint a new CEO.
Chief Financial Officer Bredan Raftery is now the acting chief executive officer until further notice.
The board also resolved that Acting Chairman, Robert Bradshaw, is to spend time with PPL during this time, with the appointment effective as of Monday this week.
While investigations are being carried out, the PPL board has asked all staff to cooperate with the appointed firm tasked to head the probe.
Acting Board Chairman Bradshaw, asked all PPL staff to cooperate.
“I would like to appeal once again to everyone to continue to work together with the Board in maintaining a concerted effort to improve the power supply to all our customers.
“We must all do our part with honesty and integrity, to provide the best possible service we can, under difficult and trying circumstances,” he said.
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