• IS provokes sea-change

    It has been a grave mistake to defy both Russia and France, says Leopold Scholtz.

  • Nene's SAA nemesis

    No political figure seems to have the guts to speak out against Dudu Myeni, says Solly Moeng.

  • The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

All data is delayed
See More

SAA board members quit

Sep 28 2012 08:27

Johannesburg - South African Airways (SAA) has been plunged into crisis after its chairperson Cheryl Carolus and six other board member resigned, Business Day reported.

This after Public Enterprises minister Malusi Gigaba cancelled the national carrier's annual general meeting this week and his request to Parliament for a two-month postponement of the tabling of is annual report. 

Carolus told the publication last night it was “with a lot of careful thought and consideration” that she had taken this “extraordinary” step.

“There has been a breakdown in the relationship with the shareholder. I thought we had agreed on a strategy. I’m finding it frustrating that this notion continues to exist that there is no strategic vision on the table at SAA.”

Former JSE CEO Russel Loubser was the first board member to quit, citing a lack of support from the Department of Public Enterprises, the report said.

So far eight of the 14-member board have resigned.

"After careful thought I also decided to resign, along with other members of the board. These are just the people who indicated to me that they will resign,” Carolus was quoted as saying.

“I believe in the airline, I believe it is a critical national asset at the southern tip of the hemisphere. It will always be an airline that is tough to run,” she said.

*Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote