Pretoria - Processes to appoint a new chairperson and board of Transnet are underway, the Department of Public Enterprises (DPE) said on Wednesday.
This as Transnet yesterday announced the departure of its Group Chief Executive Vuyo Kahla with effect from 1 December 2010. This follows on Monday's announcement by Group Chief Executive Chris Wells of his resignation at the end of March next year.
Kahla, who joined Transnet in 2004, will join the private sector. Wells joined the parastatal as its chief financial officer in 2005 and in March 2009 was made the acting group chief executive, after former group chief executive Maria Ramos left the parastatal.
"We anticipate that this will be concluded shortly. The new board will then oversee the appointment of a new Group Chief Executive for Transnet," said DPE spokesperson Ayanda Shezi.
"While it is regrettable that the situation has taken longer than desired to be concluded, the current management has done a sterling job in steering the company, and Transnet's recent interim results are further proof of that," said Shezi.
Last week the parastatal's interim results showed that its revenue was up 7.6 percent to R18.7 billion due to volumes growth in most commodities transported. Its profit for the six months to 30 September 2010 was up 35 percent to R1, 7 billion.
"We would like to take this opportunity to thank Mr Chris Wells for his selfless commitment to Transnet, and to wish him well in his future endeavours," she said.
On Sunday, President Jacob Zuma announced that former Home Affairs Deputy Minister Malusi Gigaba would replace Barbara Hogan as Minister in a Cabinet reshuffle.
