Fin24

New SAA board announced

2003-09-10 20:22

Parliament - Public Enterprises Minister Jeff Radebe on Wednesday announced the members of the newly-appointed board of directors for South African Airways.

"The identification of the new board of SAA has been in part influenced by this strategy -- SAA's strategy known as perfecting the business -- as government is serious in rolling out the Nepad (New Partnership for Africa's Development) strategy, which will ensure that Africa is adequately serviced," Radebe said.

Radebe introduced the board as:

-- advocate Marumo Moerane, who would provide "valuable" corporate governance assistance to the SAA board and to SAA management in handling the plethora of disputes submitted to the Competition Commission,

  • Cheryl Carolus, the chief executive officer of SA Tourism, who would add enormous value to SAA particularly with respect to tourism,

  • Paul Nkuna, CEO of the Mineworkers Investment Company and Chairman of Primedia Ltd,

  • Tshidi Mokgabudi, CA (SA), chairwoman of the Transnet Audit Committee,

  • Dr Charles Okeahalam, who holds a PhD with a primary focus on transportation, particularly air and sea transport. A former finance lecturer at Wits, he has experience in finance and derivative instruments,

  • Dr Rigas Doganis, who has extensive experience in the airline industry having managed Olympic Airlines.

    The other directors, who have already served on the board, are Don Ncube, non-executive chairman; Andre Viljoen, CEO of SAA; Richard Forson, CFO of SAA; and Mafika Mkwanazi, the CEO of Transnet until his resignation becomes effective on Dec 31, 2003.

    Directors to be retained by rotation are Len Konar, non-executive director and Sindi Mabaso, CFO of Transnet.

    According to Minister Radebe, the people overall that were appointed on Wednesday were "dynamic in business and strategy and therefore will be able to take SAA into great heights".

    SAPA