Embattled auditing firm KPMG said on Monday it had pulled its sponsorship of its running club and the Vorentoe high school academy.
The club had been home to more than 30 contracted elite athletes‚ including Comrades star Caroline Wostmann and Olympian Christine Kalmer‚ as well 677 registered members since it launched in September 2015.
The sponsorship officially ended on August 31‚ but KPMG said it would provide a grace period before withdrawing all support.
“This will enable some athletes to participate in upcoming major races in 2018‚” KPMG said in the statement. “The elite athletes will still receive their retainers until October 31.”
The firm lost a string of corporate clients following revelations of its role in state capture.
“This has been a challenging period for the firm and we have had to make some hard decisions in an attempt to ensure that KPMG is fit for purpose and operating on a sustainable footing‚” KPMG SA COO Gavin de Lange was quoted as saying in the statement.
Club chairman Pierre Jacobs said the executive was trying to secure a new sponsor.