Publicly listed Sun Insurance Company Ltd (SPX:SUN) has cleared the air on its engagement with former Fijian Holdings Ltd chief executive officer Nouzab Fareed, who was recently found guilty of two counts of indecent assault.
“SUN had provided a consultancy assignment to Mohammed Nouzab Fareed, as chief transformational consultant, over a period of 20 months. This assignment has now successfully completed and concluded,” the general insurer said in a statement filed at the South Pacific Stock Exchange (SPX) on Tuesday.
“SUN wishes to clarify that the company is aware of the recent publicity regarding its consultant.
“The company is aware that the matter relates to Mr Fareed’s previous employment and acknowledges the court’s decision. The matter does not relate to Sun Insurance Company Ltd’s operations, financial reporting or its customers.
“The board would like to acknowledge Mr Fareed for his sterling work in carrying out the objectives set for him within the confined period.”
Mr Fareed was appointed chief transformation officer for SUN last year.
