http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.35Change: 0.02
R/$ = 11.16Change: 0.02
Au 1223.59 $/ozChange: 2.16
Pt 1337.00 $/ozChange: 6.00
 
 
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 Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Oct 08, 2012

SAA CEO Mzimela resigns

Back
New South African Airways|Public Enterprises|Embattled Government-owned Airline|Cheryl Carolus|Malusi Gigaba|Mayihlome Tshwete|Siza Mzimela|Tlali Tlali
||
new-south-african-airways|public-enterprises|embattled-government-owned-airline|cheryl-carolus|malusi-gigaba|mayihlome-tshwete|siza-mzimela|tlali-tlali



South African Airways (SAA) chief executive Siza Mzimela resigned from the embattled government-owned airline on Monday, said the office of Public Enterprises Minister Malusi Gigaba.

"Yes we have received the resignation. We have accepted the resignation, but it was not with immediate effect," said Gigaba's spokesman Mayihlome Tshwete.

"She will remain with us for some weeks until we find a suitable person to act in the interim."

Mzimela was appointed CEO in February 2010.

SAA spokesman Tlali Tlali could not confirm the resignation when contacted for comment.

The Business Day website reported on Monday that Mzimela had described her resignation to her staff as "not a random move".

"I have given this decision careful thought and feel that now is the best time to relinquish my position as your CEO and allow somebody else to pilot the company into the future," she was quoted by the website.

Mzimela's resignation comes weeks after SAA's chairwoman Cheryl Carolus and six board members resigned.

Gigaba said he had only learnt about the mass resignation from media reports.

SAA was expected to report a R1.25-billion loss for the year ended March 31, when it holds its annual general meeting next week.

Last week, the airline won support from National Treasury after hard negotiations between it and the public enterprises department to support the airline, which according to the previous board has a debt to equity ratio of -359 percent, the website reported.

Last week, Treasury agreed to a R5-billion guarantee to enable SAA to borrow from financial markets.

Edited by: Sapa
Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
 
Latest News
The Standard Bank Group has been named one of the world’s greenest banks by Bloomberg Markets, ranked eighteenth out of 20 global finance institutions recognised for their investments in green-energy projects and efforts to reduce their own waste and carbon...
Patricia de Lille, PJ Rabie and Dominic Chennells
In a boost for renewable energy, the City of Cape Town has signed its first small-scale embedded electricity generation contract with Black River Park Investments, an office park in Observatory.  The 74 000 m2 office park uses large-scale solar power systems to...
Nigerian energy company Oando said on Tuesday its pre-tax profit in the first half rose 103% to 12.53-billion naira from 6.15-billion naira in the same period last year. Revenue dropped to 194.55-billion naira compared with 280.32-billion, the firm said in a filing...
More
 
 
Recent Research Reports
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 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 road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
 
 
 
 
 
This Week's Magazine
MANUFACTURING CAPABILITY Reliable Transformers designs and manufactures dry-type and oil-filled power and distribution transformers up to 3.5 MVA
While Ekurhuleni-based transformer manufacturer Reliable Transformers currently designs, manufactures and tests its products according to the SANS 780 specifications for distribution transformers and other applicable transformer specifications, it is working towards...
GHAREEB SAAD Kaspersky Lab products contain strong heuristics engines that monitor suspicious file execution to detect attacks
Global endpoint security solutions company Kaspersky Lab has introduced new measures to prevent cyber criminals from accessing sensitive data, alongside its malware-signature and heuristic device analysis detection methods. Threats to mobile devices have increased...
MICHAEL FLETCHER Real-time information available to government when citizens use publicly funded Wi-Fi networks will enable it to communicate with citizens and provide services
To ensure uptake and a positive impact, Wireless Fidelity (Wi-Fi) networks in cities must be provided at schools, community centres and commercial centres to enable citizens and government to access information that will improve access to and delivery of services....
Eco-estate Monaghan Farm, located near Lanseria airport, north-west of Johannesburg, has taken a new approach to modern living and sustainability with its 517 ha development, dedicated to farm living.
Forklift and lift-truck distributor Goscor Lift Hi-Reach launched the Genie SX-180, the tallest self-propelled super boom in Africa, in Johannesburg last month. “As the official distributor of the well-known Genie range of equipment in Southern Africa, we are pleased...
 
 
 
 
 
 
 
 
 
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