Marcel Golding quits as, eNCA boss

2014-10-27 16:59

Chief executive of and eNCA, Marcel Golding, has announced his resignation to staff.

He informed staff today that he had no choice but to resign, but added that the fight was not over yet, eNCA online reported.

Golding was last week suspended as executive chairman of Hosken Consolidated Investments (HCI), which has a 63% stake in

Golding appealed against his suspension in the Labour Court and lost the application this morning.

On Thursday, HCI said it was suspending Golding pending a disciplinary inquiry into allegations of gross misconduct.

According to eNCA, HCI accused Golding of an unauthorised share trade, saying he did not have board approval to acquire shares worth R24 million in technology company Ellies.

Golding reportedly claimed he was being ousted in a battle for control of’s editorial independence.

HCI denied this, saying the issue was the unauthorised share trade. HCI director Barbara Hogan resigned at the same time, according to the report.

She reportedly cited the fact that a probe into the Ellies share transaction unfolded in an unprofessional way, and that major shareholder, the SA Clothing and Textile Workers’ Union, had issues with’s editorial practices.

HCI has stakes in businesses including gaming and leisure, media and broadcasting, transport, energy, and property.

Marcel Golding Court Papers

Marcel Golding Affidavit

Johnny Copelyn Letter

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