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Top CEO sacked after allegations of ‘serious misconduct’

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The National Investment Trust Ltd (NIT) has terminated the contract of employment of its CEO, Mr Gaetan Wong To Wing with immediate effect.

An Associate at the Institute of Chartered Accountants in England & Wales, Wong To Wing was previously General Manager of National Mutual Fund Ltd before being appointed CEO of the NIT.

The decision comes almost a year after the Board of the NIT launched an independent investigation following allegations of serious misconduct involving the ex-CEO in August 2020. No further information on the nature of the ‘misconduct’ was disclosed.

Gaetan Wong was provisionally suspended “as a conservative measure” so as to ensure the seamless conduct of the investigation.

“At this stage, this is not expected to have any material financial impact on the company,” the NIT had said at that time.

Pending the conclusion of the said independent investigation, the Board Committees and the Chief Analyst of NIT, Mr Teddy Blackburn, were temporarily called to ensure business continuity.

However, in a document submitted to the Stock Exchange of Mauritius on August 19, 2021, Executive Services Limited, acting as company secretary for the Board of the NIT said Gaetan Wong’s contract was terminated with effect on the same day.

The NIT did not disclose the findings of its investigation.

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