Mohammad Ali also resigns from companys board of directors
Mohammad Ali has resigned as the managing director of Omans Galfar Engineering and from the companys board after being convicted on charges of corruption on Sunday.
Ali, an Indian national, was sentenced to three years in prison and fined RO600,000 ($1.5m) by the Muscat Court of First Instance. Galfars board of directors met on Tuesday in an emergency meeting and issued a statement that Ali, as well as another senior company employee who was also convicted, had stepped down from their positions in the company. The company also said the guilty verdict against the two men in the graft case was in their personal capacity.
In light of the court decision against two senior members of the management and for the best interest of the stakeholders, the managing director has voluntary resigned from the membership of the board of directors, the company said yesterday in a statement on the MSM website.
The statement added that the board of directors had decided to accept the resignation to ensure that the companys operations and businesses are not affected.
The company has also decided to appoint Netherlands-based KPMG to establish accountability for the recent events, review the existing policies and procedures of the company, and identify and gaps in the companys internal controls to ensure that weaknesses in the system, if any, are rectified.
KPMG will also review policies and procedures for the companys code of conduct including whistle blowing, to ensure compliance and train management staff for the implementation of the code of conduct in business dealings, says the post on the MSM website.
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