Jul 06, 2012
Gigaba reduces Transnet board to 14Back
Eskom|Public Enterprises|State|Transnet|Don Mkhwanazi|Mafika Mkwanazi|Malusi Gigaba|Nolwazi Gcaba|Peter Moyo|Tembakazi Mnyaka
© Reuse this
The board of State-owned Transnet has been reduced to 14 members, from 18, Public Enterprises Minister Malusi Gigaba announced on Friday.
Nolwazi Gcaba, Peter Moyo, Don Mkhwanazi and Tembakazi Mnyaka had been retired from the board, following extensive consultation with the Transnet chairperson Mafika Mkwanazi.
The Minister took the decision to ensure improved efficiencies, coordination and decision-making in the affairs of the board.
“The benefits of a smaller board, such as that of Eskom, were found to be worthy of replication. This is also in tandem with views echoed in the King III codes on good corporate governance, which favour a move towards leaner boards,” Gigaba said in a statement.
Edited by: Mariaan Webb© Reuse this Comment Guidelines (150 word limit)
Other Transport & Logistics News
Updated 4 hours ago Goldman Sachs Group has sold its controversial metals warehousing business to Swiss private equity group Reuben Brothers, the Wall Street bank said on Monday. The deal for Metro International Trade Services comes months after Goldman formally put the business on the...
Updated 4 hours ago Greenhouse gas emissions by the world's top 500 companies rose 3.1% from 2010 to 2013, far off the cuts urged by the United Nations to limit global warming, a study showed on Monday. The top 500 firms by capitalisation accounted for 13.8% of world greenhouse gas...