Oct 08, 2012
SAA CEO Mzimela resignsBack
New South African Airways|Public Enterprises|Embattled Government-owned Airline|Cheryl Carolus|Malusi Gigaba|Mayihlome Tshwete|Siza Mzimela|Tlali Tlali
"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: SapaComment Guidelines (150 word limit)
Dual-listed oil and gas company SacOil has completed Phase 1 of the field development operations at the Lagia oilfield in Sinai, Egypt. The South African-based independent company, through its subsidiary Mena International Petroleum Company, also completed hydraulic...
Recent Research Reports
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
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.
This Week's Magazine
Three-dimensional (3D) printers being sold in South Africa by electronics distributor Rectron currently print in two types of plastic, but have a clear upgrade path over the next five years to eventually print in wood, ceramics and metal-alloy materials, says Rectron...
The world’s two dominant commercial aircraft manufacturers, Airbus of Europe and Boeing of the US, both recently announced that they had made record aircraft deliveries in 2014. Boeing set a global record for the industry with 723 commercial aircraft delivered, while...
The Western Cape is shifting further into the renewable-energy space with the official opening of a factory specialising in solar inverters, a key component of solar photovoltaic (PV) plants. The investment in the manufacturing facility in Cape Town aims to boost the...
Business Leadership South Africa (BLSA) last month welcomed Cabinet’s establishment of a technical team war room to undertake various interventions to improve electricity supply security over the short- and medium-term, but added that the private sector also had a...
Despite a rapid rise in mobile connections and the economic and social benefits of such connectivity, more than half of the world ended 2014 unconnected. For this reason, industry commentators believe the biggest impact of mobile technology is still to come –...