Neotel CEO Sunil Joshi has resigned with immediate effect.
This is according to a statement issued by Neotel, which notes that the Neotel boss has decided to step down to pursue his own interests.
"We regret to inform you that Mr Joshi has decided to pursue his own interests, and will resign from Neotel with immediate effect," says the statement.
In August, the Neotel CEO was placed on special leave pending an investigation into alleged bribery and corruption in connection with a Transnet deal worth R1.8 billion.
In the statement Neotel explains that placing Joshi on leave was initiated by the board, while an investigation was being conducted into certain transactions involving Neotel and Homix.
Mr Sunil Joshi complied with this process, cooperated therewith and fully supported the Board in such process, says Neotel.
As a result of the investigation and with the information available to the board relating to the Homix transaction, the board has found nothing to date that implicates Mr Joshi personally in any bribery or corruption activities, reads the statement.
According to a Mail & Guardian report, Neotel paid tens of millions of rands in "commissions" to the letterbox company Homix to clinch the lucrative Transnet deal. Neotel auditors also found alleged irregularities when conducting the telco's most recent audit.
This led to Joshi and the then Neotel CFO Steven Whiley, being placed on special leave pending an investigation into alleged bribery and corruption.
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