in Air Transport / Business & Finance

SAA major board shake-up as chair replaced

Posted 19 October 2017 · Add Comment

South African Airways is undergoing a major board reshuffle today.

The beleaguered national carrier saw the country’s Treasury Department ousting chair Dudu Myeni from her position as part of the shake-up.
Johannes Bhekumuzi Magwaza (pictured right) was named as Myeni's replacement, with Nolitha Fakude to serve as deputy chair.
Magwaza has decades of business leadership experience and has built up a name for himself as a director of numerous national and international companies. He is the founder of Nkunzi Investment Holdings and serves as its executive chairperson. He also holds a master’s degree in industrial relations from Warwick University in the United Kingdom, and a bachelor of arts in psychology and social anthropology from the University of Zululand.
Myeni – a close ally of President Zuma - has long faced pressure from South Africa's opposition party over her political ties and will step down formally on November 3. it was a consortium of private lenders that put pressure for the removal of Myeni from the SAA's board.
Making the announcement Finance minister Malusi Gigaba has urged the new board members to "ignore the political noise and focus on the business of strengthening SAA".
South African aviation expert, Guy Leitch, said: “This has indeed been a welcomed surprise because under Dudu Myeni's leadership SAA has incurred unprecedented losses.
Five other board members – Tryphosa Ramano, Mzimkulu Malunga, Siphile Buthelezi, Nazmeera Moola, and Gugu Sepamla – will also step down as part of the revamp.
The treasury has named several new non-executive board members. These include Geoff Rothschild, Ahmed Bassa, Tinyiko Mhlari, and Martin Kingston. Bassa is recognised as an “aviation specialist”.
SAA recently named a new chief executive officer, Vuyani Jarana, who will be tasked with implementing a restructuring process in a bid to restore stability to the carrier. He starts at the airline at the start of November
 

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