Trustco board survives shareholder revolt led by US-based investor
Sean Riskowitz called for board changes and a governance overhaul at the Namibian group.
Trustco’s incumbent board has survived an attempt by SA-born but US-based investor Sean Riskowitz to unseat its directors as part of a proposed governance overhaul aimed at restoring confidence in the troubled Namibian group.
Seven resolutions to remove the incumbent directors were defeated at a requisitioned general meeting in Windhoek on Tuesday, as were resolutions to appoint five replacements nominated by Riskowitz Capital Management.
