Transnet dismisses group chief executive

Erstwhile Transnet chief executive Siyabonga Gama. Photo: Simphiwe Mbokazi/African News Agency (ANA)

Erstwhile Transnet chief executive Siyabonga Gama. Photo: Simphiwe Mbokazi/African News Agency (ANA)

Published Sep 27, 2018

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JOHANNESUBURG – State-owned rail, port and pipeline company Transnet on Thursday served its group chief executive Siyabonga Gama with a letter informing him of the Board’s intention to terminate his employment.

Board chairperson Popo Molefe said in a statement that the reasons for the dismissal related to alleged serious violations of his financial, procurement and fiduciary responsibilities as Transnet group chief executive. “As a result, the Board had lost trust and confidence in Gama’s ability to lead Transnet.”

President Cyril Ramaphosa’s administration is clamping down on graft and tackling poor management at state-owned companies, which are cash-strapped and pose an increasing risk to the nation’s finances. Executives at state power utility Eskom Holdings as well as SAA are among those to have been replaced.

The Board said the Minister of Public Enterprises, Pravin Gordhan, had been informed of its decision.

Gama has been given 10 days to make written representations as to why his appointment as group chief executive should not be terminated.

– BUSINESS REPORT ONLINE

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