17 Apr

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Sygnia hits back as ex-employee takes legal battle against Magda Wierzycka to ConCourt

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Garth Theunissen
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Magda Wierzycka, co-founder and CEO of Sygnia. (Image supplied)
Magda Wierzycka, co-founder and CEO of Sygnia. (Image supplied)

Asset manager Sygnia has hit back at allegations by a former employee against its co-founder and CEO Magda Wierzycka.

The allegations stem from a labour dispute between the company and former employee Lesedi Kelatwang. According to his court papers, he claims Wierzycka confronted him in February 2019 about BEE issues he had raised, and proceeded to accuse him of calling her a racist. Kelatwang alleges this confrontation resulted in him being retrenched in apparent retaliation for his promotion of the BEE agenda.

After being dismissed with effect from 31 May 2019, Kelatwang took Sygnia to the Commission for Conciliation, Mediation, and Arbitration (CCMA), which found his dismissal for operational reasons was both substantively and procedurally fair.

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