http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.99Change: -0.07
R/$ = 13.26Change: 0.05
Au 1144.01 $/ozChange: 10.26
Pt 1015.00 $/ozChange: 3.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Sep 28, 2012

Gigaba accepts SAA resignations, appoints new board members

Back
Denel|Eskom|Public Enterprises|South African Airways|Transnet|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
Denel|Eskom|Transnet||
denel|eskom|public-enterprises|south-african-airways|transnet|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



Public Enterprises Minister Malusi Gigaba has accepted the resignations of eight South African Airways (SAA) nonexecutive directors, including chairperson Cheryl Carolus, and has appointed eight replacements to support the four remaining nonexecutives directors – Vuyisile Kona has been appointed as SAA’s new chairperson.

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.

“The insinuation that the said media leakage was caused or orchestrated by the Minister or the department is both mischievous and ill-conceived,” Gigaba said, describing the leaks as an abuse of free speech.

It was widely accepted, he said, that the terms of the majority of board members would have come to an end at the airline’s upcoming annual general meeting scheduled for October 15.

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.

Gigaba said his department was in consultation with the National Treasury on a guarantee application, the resolution of which would be announced once finalised.

 

Edited by: Creamer Media Reporter
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
 
Latest News
Updated 1 minute ago While Eqstra’s embattled contract mining and plant rental division delivered an improved performance in the year to June 30, on the back of a successful turnaround, persistent global commodity pressures and related client challenges faced by the division continued to...
Electric vehicle maker and energy storage solutions provider Tesla Motors has selected the northern Mexico-located Sonora lithium project to supply lithium hydroxide for its Gigafactory, in Nevada. Partners TSX-V-listed Bacanora Minerals and LSE-listed Rare Earth...
More
 
 
Recent Research Reports
Defence 2015: A review of South Africa's defence sector (PDF Report)
Creamer Media’s Coal 2015 report examines South Africa’s coal industry with regards to the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the...
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
Real Economy Insight: Automotive 2015 (PDF Report)
Creamer Media’s Real Economy Year Book comprises separate reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, gold, iron-ore and platinum sectors.
Real Economy Insight: Water 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Construction 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Electricity 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
 
 
 
 
 
This Week's Magazine
Training company The Intelligence Transfer Centre will host the fourth yearly Environmental Crimes Conference at the Indaba Hotel, in Fourways, Johannesburg between September 9 and 10. Confirmed key regulatory bodies that will attend the event include the Department...
The government of Egypt has said it is ready to provide technical assistance to Malawi in the development of the Shire–Zambezi waterway, which is designed to link landlocked Malawi to the Indian Ocean by opening the two rivers for navigation. Egyptian ambassador to...
Kenya is finally set to start building a new multipurpose petroleum pipeline, after securing a $350-loan from a consortium of banks, including South Africa's Rand Merchant Bank. The other banks in the consortium are the Cooperative Bank of Kenya, Citibank's Kenya...
MARAIS VAN HEERDEN The owner/operator should be able to view the overall project design and progress made at any time
Three-dimensional (3D) engineering design models can now be viewed on tablets, which enable stakeholders to view the design without having to buy the design software used to create it, says engineering design firm 3DDraughting executive Marais van Heerden. The...
Ford’s newest offering in a long list of newcomers to the local market in the last two years is the B-Max multi-activity vehicle (MAV). The B-Max will play in the so called B-MAV segment, or the small MAV segment, currently dominated by Toyota’s Avanza, which sells...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96