Fin24

Denel appoints new CEO

2011-11-30 11:33

Pretoria - State-owned arms company Denel has appointed Riaz Saloojee as new group CEO, Public Enterprises Minister Malusi Gigaba said on Wednesday.

"Riaz has the right industry experience and skills to take Denel to the next level," Gigaba told reporters at Denel's head office in Irene, Pretoria.

Saloojee takes over from Talib Sadik, whose stewardship saw Denel make a profit for the first time in over a decade.

Sadik's contract ends on December 31 2011.

Saloojee has headed various defence organisations including Saab SA, Grintek Integrated Defence Systems, Metatek and Tau Aerospace.

After completing matric, Saloojee joined the ANC's armed wing Umkhonto we Sizwe where he held various positions in Angola, Botswana, Zimbabwe and Zambia.

In 1994, he was appointed a colonel in the SA National Defence Force.

Gigaba said Saloojee's mandate was to ensure Denel's sustainability and viability.

Saloojee was also expected to win more international business for Denel as well as ensuring alignment between Denel and the defence department.

"He needs to pull his charm to win... the confidence of the department of defence as the most critical customer that Denel should have," Gigaba said.