According to Accacia’s
announcement shared in the company’s website, Mr Mwapachu ‘decided’ to
resign from his position as the company’s Non-Executive Director after
term of his appointment ended.
“…following the expiry
of his second three-year term of appointment, Ambassador (ret'd) Juma V.
Mwapachu has decided to retire from the Acacia Board of Directors with
effect from 13 July 2017. The Acacia Board of Directors and the
management team wish to acknowledge Ambassador Mwapachu for his valuable
commitment and support to the company during his tenure and wish him
all the best for the future,” reads the statement in part.
Following
the retirement, Acacia Board will comprise seven members, including
four Independent Non-Executive Directors, two Non-Executive Directors
and one Executive Director.
The mining giant is
embroiled in a bitter dispute with the government on exportation of
mineral concentrates, with the company accused of causing the government
a loss of about Sh100 trillion. The company is disputing the
allegations; however Accacia’s parent company Barrick and the government
are expected to start negotiating the matter soon.
