A new leader for Transnet before the end of the year

State-owned freight and rail company Transnet should have a permanent group CEO by December. This was revealed to Moneyweb by board chair Popo Molefe after the company’s annual results were presented on Monday.

Molefe says Transnet recently concluded interviews for three positions – group CEO, chief treasurer, and chief internal audit officer – and is waiting to interview candidates for the position of CFO.

He says the filling of these vacancies had been prolonged due to the legal battles between Transnet and its former group CEO Siyabonga Gama, who is opposing his dismissal.

Read: Transnet dismisses CEO amid procurement probe

Gama was axed last year. His future at Transnet had been uncertain for some time after his and other senior executives’ roles in alleged maladministration were questioned during separate investigations into the workings of the company.

Tau Morwe was appointed to the position on an interim basis, and his six-month contract was not extended.

Mohammed Mahomedy took over as acting CEO in May. 

Molefe says the appointment has taken a long time because Gama has been opposing his suspension. “We couldn’t advertise his position because it would have appeared like we premeditated his dismissal – so that was the reason the appointment was delayed.

“But we are now at a point where we should be able to move rapidly,” he adds.

The recommendation should be placed before the relevant cabinet committee soon. It will then need to go through the cabinet process.

Molefe would not disclose the name of the prospective new group CEO, but says Transnet should be able to make an announcement once the recruitment process has been completed.

“In terms of our memorandum of incorporation and the shareholder compact, as well as the legal succession [in terms of] the Transport Act, we are required to consult with the shareholder representative regarding the [filling of the] position of group CEO and CFO,” he says.

“It is because these are executive director positions – they are appointed by the shareholder [government] and not by the board.”