The chairman of PNG Sustainable Development Program Ltd, Sir Mekere Morauta, said the O’Neill Government’s decision to appoint Mr Paul Yangen as interim Managing Director of the company is of no effect.
“PNGSDP is a Singapore not-for-profit company, bound by its own constitutional documents, known as the Program Rules and Memorandum and Articles of Association,” he said. “NEC’s actions are entirely inconsistent with the company's constitutional documents and are unlawful. “The same goes for the purported removal of the board and attempted appointment of a Transitional Management Team last month. “All of these actions are of no legal effect whatsoever, and PNGSDP does not accept any of them. “The chairman, the board and the CEO of PNGSDP will continue to manage the company in accordance with its constitutional documents. Comments are closed.
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