Lonrho manager speaks out on reasons for Wicks suspension

DISQUIET ABOUT management style and reporting procedures are at the heart of the suspension of Ian Wicks, founder and MD of S A Independent Liner Services (Sails) by major investor, Lonrho. An investigation, headed solely by Rob S cott, Lonrho’s country manager for S outhern Africa, was mounted on June 4 and could take several months or even less. “It does not mean to say he (Wicks) has done anything wrong, nor does it mean to say he has done anything right, but Lonrho (UK) management and directors decided a decision needed to be taken. “If there is a positive outcome (in favour of Wicks) in terms of our investigations or discussions, the incumbent will go back to his job, back to the status quo.” Scott told FTW Lonrho had attempted to have an “amicable’ discussion with Wicks over “certain performance and reporting question marks” but could not reach a satisfactory outcome, hence the suspension. “We have since heard from Ian informally and are in the process of responding” said S cott, adding that “if and when issues are picked up” it may be necessary to involve lawyers and accountants. “Wicks’ reporting information was not what it should have been but there has to be due process, proper closure, without which I cannot foresee anybody walking away. “The investigation is bringing things to light but it’s a very sensitive issue and it’s not our style to prejudice anyone. If something is untoward, we will deal with it internally.” Lonhro is a listed UK company, accountable to some 20 0000 shareholders, so FTW asked acting MD, Peter Albeck, about S ails’ bottom line results. “Quite frankly, I don’t know. Balances have been one of the problems (of previous management), one of the reasons we thought reporting was lacking and we were not happy with the service and his style of management.” Focusing specifically on African investment and involved in air and sea transport, primary infrastructure, support services and natural resources, Lonrho has injected a huge sum into Sails, acquiring a 45% stake in July 2007, thereafter increasing it to 66.7% in March. • Repeated attempts by FTW to reach Wicks for comment last week were unsuccessful.