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Board Forces High Earning PSMAS Boss to Retire

The Board of the Premier Service Medical Aid Society (PSMAS) has forced Chief Executive Officer Curthbert Dube, who is reportedly earning a basic salary of $230,000 a month, to retire.

In a statement issued Monday, Board Secretary Cosmas Mukwesha said, “The Board resolved that in view of the fact that the Group Chief Executive officer, Dr. C E Dube has reached retirement age, he be retired. Details on the retirement are being worked out.”

Indications are that the Board forced him to retire following government pressure over Dube’s salary package while PSMAS employees are living from hand to mouth.

The state-owned Herald newspaper recently revealed that senior PSMAS management are gobbling at least a million dollars monthly in earnings when the company is reeling under a $38 million debt.

According to the Herald, 14 of the company's senior managers at the health care provider earn $1.1 million every month while in 2012 the group’s top chief executive allegedly earned a basic salary of $230,000 monthly.

Other top executives earned between $200,000 to $100,000 monthly.

The board secretary also noted that it has resolved to relieve the current PSMAS board chairman Mrs. Meisie Makeletso. Namasasu of her duties with immediate effect.

“In line with the Society’s Constitution, the Board appointed the vice chairman Newton. Mhlanga as acting chairperson until the appointment of a substantive chairperson,” said Mukwesha.

He assured PSMAS members that the Board of Directors would continue providing services to all its members.