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Why the Guptas resigned from Oakbay


The decision to resign with immediate effect "follows a sustained political attack on the company, and the concern that the jobs and livelihoods of nearly one thousand employees would be at immediate risk as a result of the outgoing director’s association with the company", Oakbay Resources announced.
“It is with deep regret and a heavy heart, that following a period of sustained political attack on our family and our businesses, we took the decision yesterday to resign all executive and non-executive positions held in Oakbay Investments, by Gupta family members," the Guptas said in a statement."

“Oakbay’s executive committee and the CEOs of each of the businesses will continue to oversee the management and running of the business and all portfolio companies going forward," the Guptas said.
 
“We find it totally unacceptable that several thousand direct employees and tens of thousands of their dependants will have to suffer as a result of the campaign against Oakbay and the Gupta family.
 
“By stepping down from all executive and non-executive positions and any involvement in the business, we hope to save the livelihoods of tens of thousands of people in our great rainbow nation.”
The Guptas asked the establishment "that holds the livelihoods of tens of thousands in its hands: Can you do the right thing now that we have stepped aside?".
Source: fin24

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