Transnet acting group CE Tau Morwe
Photo by: Creamer Media
State-owned Transnet last week held a board strategy workshop to review the group’s deteriorating financial and operational performance.
The first resolution to come out of the workshop was on the principles for the corporate design of a new operating model that is underpinned by financial stability, customer centricity and operational excellence.
The second resolution was to sub-delegate and mandate the acting group CE Tau Morwe to develop a revised operating model, corporate structure and new group executive, including its supporting implementation strategy, for submission to the board by the end of February at the latest.
The third resolution was the dissolution of the current group leadership team and its replacement by an interim group executive team, until the new executive committee is established in terms of the new operating model and corporate structure.
The board was confident that this new direction would assist in positioning Transnet on a trajectory that would contribute to a growing economy.