Transnet head Gama given notice of termination, board confirms | Fin24
 
  • Solly Moeng

    Give business owners a reason to stay in South Africa.

  • Pravin Gordhan

    The minister says SA is paying more for electricity because of theft at Medupi and Kusile.

  • Keep Flying the Flag

    The ANC says the state must keep a 'restructured' SAA as a national airline.

Loading...

Transnet head Gama given notice of termination, board confirms

Sep 27 2018 19:04

The Transnet Board has confirmed Transnet group chief executive Siyabonga Gama was given notice of termination, with ten days to justify why he should not be axed.

In a statement, the Board said it had on Thursday served Gama with a letter explaining its decision, citing "serious violations" of his duties, as well as a loss of "trust and confidence" in him.

"The Board of Transnet has today served Mr. Siyabonga Gama with a letter informing him of the Board’s intention to terminate his employment as Group Chief Executive Officer (GCEO) of Transnet SOC Ltd," said the statement, which was issued on behalf of the Board by Chairperson Popo Molefe.

"The reasons provided to him by the Board relate to alleged serious violations of his financial, procurement and fiduciary responsibilities as Transnet GCEO.

"As a result, the Board had lost trust and confidence in Mr. Gama’s ability to lead Transnet as GCEO."

Public Enterprises Minister Pravin Gordhan has also been informed, Molefe said.

Gama has been given ten days to make written representations as to why his appointment should not be terminated.

Earlier, City Press reported that Gama had received a "lengthy" letter from Molefe, citing a list of Gama's alleged transgressions. These are included in a report on the controversial tender involving 1 064 locomotives by MNS Attorneys.

Molefe also reportedly said the relationship between Gama and the board had broken down.

Acting Transnet spokesperson Nompumelelo Kunene could not immediately be reached for comment.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

transnet  |  pravin gordhan  |  popo molefe  |  siyabonga gama  |  soes
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote

Loading...