Transnet chair to take on dual role

Johannesburg - The chairperson of Transnet will act in the role of group chief executive until a permanent replacement is found, the parastatal said on Wednesday.

"Mafika Mkwanazi has been tasked with the additional responsibility of assuming the group chief executive function with effect from December 16 2010," the Transnet board said.

Mkwanazi will assume all the responsibilities of the group CEO until the company finds a permanent candidate.

"As chairperson, finding a suitable candidate for the vacant position of group chief executive will be one of Mr Mkwanazi's main responsibilities, after which he will return to his normal role."

The current acting chief executive Chris Wells resigned from Transnet, with effect from March 31 2011. He had been in the acting position since March 2009 after Maria Ramos stepped down to join Absa Group.

"Mr Wells' resignation included a proviso that he would stand down from his current position as soon as an alternative was appointed - if prior to March 31 2011."

Wells will hand over the group chief executive position immediately, but is to stay at Transnet until the end of the financial year to hand over to Mkwanazi.