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 5 minutes ago Uganda could rely on income from future oil exports to finance an $8-billion railway if funding talks with China fail to bear fruit, its president said. Yoweri Museveni confirmed that Uganda had started negotiations with China on building the line that would link to...
Updated 1 hour 4 minutes ago JSE-listed materials supplier Afrimat expects to report basic earnings per share (EPS) of between 59c and 64c, when it releases its interim results for the six months ended August 31. This would be between 20% and 30% higher than the EPS of 49.1c recorded in the...
Updated 1 hour 27 minutes ago JSE-listed Freedom Properties has appointed Jan Francois (Franky) Pretorius as CFO and FD to succeed Richard Eaton, who resigned on October 17. Pretorius is a qualified chartered accountant and completed his articles with KPMG, where he was eventually promoted to...