Survé steps down as Sekunjalo director

Sekunjalo, the controversial investment group which owns Independent News and Media (INM), has announced that its director and executive chairman, Iqbal Survé, has stepped down from the position.

In a SENS statement released late on Thursday (6 November) the group said that Survé has tendered his resignation as executive chairman and executive director of the company.

The announcement came as a surprise to many, following the company’s healthy results for the year, announced earlier in the week.

Sekunjalo on Tuesday reported an increase in profits to R102.4 million for the year ended 31 August, from a profit of R30.3 million the year before.

Revenues increased to R620.5 million from R570 million before, while diluted earnings per share were up to 19.76 cents from just 6.08 cents in 2013.

There have been a number of editorial changes and resignations by senior staff at Independent Newspapers since Survé’s Sekunjalo-led consortium bought the company last year.

In June, The Star’s editor Makhudu Sefara resigned, as did Mercury editor Philani Mgwaba. Former Sunday Independent editor Moshoeshoe Monare left in March and joined the M&G as deputy editor.

In February, veteran financial journalist Ann Crotty resigned from Business Report, Independent’s financial daily. Crotty joined weekly newspaper, the Sunday Times.

Cape Times editor Alide Dasnois was dismissed from her position after a disciplinary hearing in May.

The company said it was because she opted for a wrap-around to mark the death of former president Nelson Mandela in December instead of clearing the front page.

The front page had a story relating to a fisheries tender linked to the Sekunjalo consortium.

Survé has denied that Dasnois’s dismissal was due to the fisheries tender story.

More on Sekunjalo

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Survé steps down as Sekunjalo director