Oakbay Investments CEO resigns for “health reasons”

Gupta-owned Oakbay Investments CEO Nazeem Howa has resigned from the company with immediate effect, citing health reasons.

The group made the announcement on Monday, following a court application by finance minister Pravin Gordhan, in which a number of suspicious payments by Gupta companies, including Oakbay Investments, were identified.

According to the company, Howa made the decision to step down after a “period of illness…due to health issues and (on receiving) medical advice (to do so).”

Ronica Ragavan, the group’s current financial director, will take over the role as acting CEO until a permanent executive can be found.

Howa has also stepped down as a non-executive director at Oakbay Resources, the company announced.

More on Oakbay

Guptas’ Oakbay Resources signs new coal export deal

Oakbay claims Sahara CEO was intimidated after Gordhan ambush

Latest news

Partner Content

Show comments

Follow us


Oakbay Investments CEO resigns for “health reasons”