Jimmy Lipunga, Chairman of the Board of Directors of Illovo Sugar (Malawi) plc, has said the company has the capacity to handle the recruitment of the Managing Director (MD), saying there is scope to outsource services to a later stage.

His comments follow the sentiments of some observers who criticized the Malawi Stock Exchange-listed company’s decision to use internal structures for MD recruitment, arguing that this could compromise fairness, transparency and governance of the company. ‘business.

But Lipunga, in an interview on Sunday, said Illovo is a multinational group with a good record of corporate governance and strong ability to manage recruitment.

“The jury will see the candidates at a certain stage. If there are more internal applications, we can involve our regional partners, but if some from the region also apply, we can bring in a third party to ensure fairness,” he said.

Finance and corporate governance expert Brian Kampanje said on Sunday that while it is not wrong to use the human resources department, it is important to involve the remuneration and nomination committee of the board of directors. administration because the position is important.

Association of Minority Shareholders of Listed Companies general secretary Frank Harawa said they expected good management from management and the board.

Illovo recruits MD following the departure of Lekani Katandula, appointed financial director of Associated British Foods based in the United Kingdom.