Resignation will not absolve Pita from accountability – DPE
The resignation of Garry Pita as CFO of State-owned Transnet does not absolve him of accountability should he be found to have had a role in the alleged corruption at Transnet, the Department of Public Enterprise (DPE) said late on Thursday.
Pita on Thursday resigned after 12 years at Transnet, stating that it was in the interest of his health and his family.
“The resignation follows subsequent to Transnet facing a series of allegations of deep corruption and malfeasance with highly suspicious and questionable financial transactions to the detriment of Transnet and its reputation.
“The current board of the freight group is yet to provide credible explanations of how such transactions were approved or condoned over successive financial years, and will also need to explain how it had exercised its fiduciary duties in the context of a plethora of information in the public domain showing how Transnet became a target of State capture,” the DPE noted in a statement.
Transnet noted in a separate statement that Pita had, last year, advised the company that because of his continued ill-health and strain from the job, he would tender his resignation at the end of the 2017/18 financial year, which ended on March 31.
“In the interest of my health and family, I have decided on a new set of priorities. I am glad that Transnet has agreed to release me at this time and wish to thank all the colleagues, members of the board for their support and guidance during my stint here. I will forever be grateful to them. The company is on a positive trajectory and is in good hands,” said Pita.
Transnet CE Siyabonga Gama thanked Pita for his contribution and commitment towards the sustainable turnaround of Transnet as it charts a new path.
“He has worked hard in assisting to carry a new vision of growth and geographical diversification,” Gama said.
Mark Gregg-Macdonald will act as the interim CFO.
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