Sep 28, 2012
Gigaba accepts SAA resignations, appoints new board membersBack
Denel|Eskom|Public Enterprises|South African Airways|Airline|Media Leak|Said Media Leakage|Andile Khumalo|Bonang Mohale|Bongisizwe Mpondo|Carol Roskruge|Cheryl Carolus|David Lewis|Jabulani Ndlovu|Louis Rabbets|Maggie Whitehouse|Malusi Gigaba|Nonhlanhla Kubeka|Raisibe Lepule|Rajesh Naithani|Russell Loubser|Teddy Daka|Vuyisile Kona
© Reuse this
Besides Carolus it was confirmed that Russell Loubser, Bonang Mohale, Louis Rabbets, Jabulani Ndlovu, David Lewis, Teddy Daka and Maggie Whitehouse had also resigned.
The other new nonexecutive directors named were Andile Mabizela, Andile Khumalo, Bongisizwe Mpondo, Dr Rajesh Naithani, Carol Roskruge, Raisibe Lepule and Nonhlanhla Kubeka.
Gigaba expressed irritation that certain resignations had been announced through the media. He also described the timing as “bizarre”, asserting that they followed a “prompt engagement” between Gigaba and board members following a media leak of a possible board shake-up.
He also defended his authority to review board appointments yearly and described as “established convention” the gaining of Cabinet concurrence to board changes at State-owned companies – such consultation was undertaken on September 19.
Since taking up his position, Gigaba has adopted a “hands on” approach to shareholder oversight across the eight State-owned companies falling under the authority of the Department of Public Enterprises.
He recently made wholesale changes to the board at SA Express and surprised many when he made material changes to the Eskom board in mid-2011, when he replaced Mpho Makwana with Zola Tsotsi. He has also been active in the selection of new nonexecutive directors and the restructuring of boards at Transnet, Denel, Safcol and Alexkor.
Business Day quoted Carolus on Friday as saying that she had taken the extraordinary decision, owing to a “breakdown in the relationship with the shareholder”.
She expressed frustration with the suggestion made by Gigaba at a recent Cape Town Press Club event that SAA lacked a strategic vision.
Following his remarks, Gigaba had put out a note clarifying his statements, in which he said it was inaccurate to infer that he did not support further funding for SAA. But he reiterated the need for “a long-term vision” and that the airline should not “continue requesting funding without presenting a long-term plan”.
For some time, SAA had been seeking further guarantees and had even argued previously for a shareholder injection of between R4-billion and R6-billion.
Edited by: Creamer Media Reporter© Reuse this Comment Guidelines
Other Transport & Logistics News
Updated 2 hours 40 minutes ago The death Thursday of South Africa's liberation leader and first democratic president Nelson Mandela triggered an unprecedented worldwide chorus of awed respect. Statesmen, resistance leaders, Nobel laureates and prisoners of conscience have died before, but never...
Updated 3 hours ago Nelson Mandela, who died on Thursday, once the world's most famous political prisoner, emerged from a 27-year jail term in 1990 to lead South Africa from apartheid to democracy. President Jacob Zuma announced his death on the public broadcaster just before...
Recent Research Reports
Defence 2013: A review of South Africa's defence industry (PDF Report)
Creamer Media’s 2013 Defence Report examines South Africa’s defence industry, with particular focus on the key players in the sector, the innovations that have come out of the defence sector, local and export demand, South Africa’s controversial...
Road and Rail 2013: A review of South Africa's road and rail infrastructure (PDF Report)
Creamer Media’s Road and Rail 2013 Report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move...
Liquid Fuels 2013 (PDF Report)
Creamer Media’s 2013 Liquid Fuels report examines South Africa’s liquid fuels market, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing,...
Projects in Progress - Second Edition (PDF Report)
Creamer Media’s second Projects in Progress supplement considers some of the major project developments under way, including high-profile energy and transport projects, as well as a few of the lower-profile public and private developments. What remains apparent is...
Water 2013: A review of South Africa’s water sector (PDF Report)
Creamer Media’s Water 2013 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
Canadian Mining Roundup for June 2013 (PDF Report)
The June 2013 roundup includes details of the development of TSX-V-listed Aldridge Minerals’ flagship Yenipazar polymetallic project, in Turkey; the Canadian Nuclear Safety Commission’s renewal of Cameco’s uranium mining licence pertaining to the Cigar Lake...
This Week's Magazine
Updated 6 hours ago Mitsubishi Motors South Africa (MMSA) has introduced a 4x2 derivative of its Pajero Sport sports-utility vehicle (SUV), which will give it access to a substantial slice of the full-size SUV market, where it will compete with the likes of the Ford Everest, Chevrolet...
Updated 6 hours ago South African Energy Minister Ben Martins has affirmed that the government wants the country to be globally competitive in the nuclear sector. "Our responsibility has always been ... to ensure that, in nuclear energy, South Africa can compete with the rest of the...
Updated 6 hours ago Mercedes-Benz South Africa (MBSA) president and CEO Dr Martin Zimmermann describes the new S-Class as “a special place to be”, with the car creating a sense of “wellness” once you are seated inside the German brand’s flagship model. It is difficult to argue...
Updated 6 hours ago Water scarcity and water-quality issues are broadly recognised and understood in most political, business and civil organisations in South Africa, but solving water issues will require wide and continuous action in catchments and municipalities by organisations and...
Updated 6 hours ago Work is well under way on the R212-million Imvutshane dam, 30 km north-west of Stanger, in KwaZulu-Natal, which is a key link in supplying people in rural Maphumulo with a reliable source of safe drinking water.