Photo by: Reuters
Oakbay Resources on Tuesday announced a new CEO following the abrupt resignation of Varun Gupta from the position last month.
“Oakbay Resources is pleased to announce that, following a Nominations Committee process, the Board has appointed Mr Jacques Roux as the CEO of the Company with immediate effect,” the company said via JSE-SENS.
Varun resigned from Oakbay together with his brother, Atul Gupta, and Duduzane Zuma, the son of President Jacob Zuma.
This was after the controversial Gupta family business came under fire stemming from accusations of involvement in state “capture” allegedly using their close proximity to President Zuma.
The Guptas were also accused of “offering” cabinet positions to African National Congress cadres who were allegedly willing to further their business interests.
The Gupta brothers left for Dubai after their resignation from Oakbay Resources, though it was still unclear whether or not their relocation was permanent.
On Tuesday Oakbay said Roux has “broad commercial acumen” and extensive experience in the mining sector including platinum group metals, chrome and coal.
“He has previously held the position of Chief Executive Officer of JIC Mining Services. In June 2015, he was entrusted with executive accountability for the Oakbay Group’s coal mining operations at Brakfontein Colliery near Delmas,” Oakbay said.
The board congratulated Roux on his appointment and said it was looking forward to his valuable contribution to the company.