R/€ = 13.14
R/$ = 12.05
Au 1200.03 $/oz
Pt 1139.50 $/oz
Sep 11, 2003
State appoints new SAA boardBack
© Reuse this Minister of the Department of Public Enterprises (DPE) Jeff Radebe announced yesterday the newly appointed board of directors of South African Airways (SAA).
The appointment comes at a time when SAA is facing challenges in the aviation market coupled with the strengthening rand as well as the impact of the Sars virus.
Radebe, however, said, “government is confident that despite these challenges SAA has what it takes to survive and even compete head-on with major airlines”. SAA’s strategy known as Perfecting the Basics has a particular emphasis on growing business in Africa, which seems to be a relatively untapped market at this stage. The identification of the new board of SAA has been in part influenced by this strategy, as government is serious in rolling out the Nepad strategy, which will ensure that Africa is adequate serviced.
“It is apparent that tight financial management by the company will ensure its survival and success going forward, therefore, strong finance people have been identified for the board. Overall, people who are being appointed here today are dynamic in business and strategy and therefore will be able to take SAA into great heights,” Radebe said.
Directors to be retired by rotation include non-executive director L Konar and CFO of Transnet S Mabaso.
Directors to be retained are non-executive chairperson Don Ncube, CEO of SAA Andre Viljoen, CFO of SAA R Forson and CEO of Transnet Mafika Mkwanazi.
Directors recommended for appointment include Marumo Moerane, Cheryl Carolus (CEO SA Tourism), Paul Nkuna (CEO of the Mineworkers Investment Company), Tshidi Mokgabudi (CA chairperson of Transnet Audit Committee), Charles Okeahalam and Rigas Doganis.
Edited by: laurian clemence© Reuse this Comment Guidelines (150 word limit)
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