e.tv CEO Marcel Golding resigns
Marcel Golding, the CEO of e.tv and eNCA, has announced his resignation to staff.
This follows his recent suspension by holding company HCI.
Golding appealed against the suspension in the Labour Court but lost that application on Monday morning.
HCI accused him of an unauthorised share trade saying he did not have board approval to acquire Ellie’s shares to the value of R24-million.
Golding says he is being ousted in a battle for control of e.tv's editorial independence.
He informed staff that he had no choice but to resign, although he added the fight is not over yet.
While he has resigned from HCI he also intends to take the company to the CCMA on charges of constructive dismissal.
He says his employment relationship with HCI has become intolerable and that he reached his decision with a heavy heart.
Golding believed his upcoming disciplinary hearing was an orchestrated move to get him out.
HCI has repeatedly rejected these charges saying the issue was the unauthorised share trade.
At the same time fellow HCI director Barbara Hogan has also quit.
She cites the fact that the Ellie’s share transaction inquiry unfolded in an unprofessional way, and that major e.tv shareholder SACTWU had issues with e.tv’s editorial practices.
HCI said that it was surprised at the hostile manner in which Hogan’s resignation had been couched. It states that no other Board member, other than perhaps Marcel Golding, felt the same way as she did.