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
Creamer Media Senior Researcher and Deputy Editor Online
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