South Africa's Public Enterprises Minister has appointed a new interim board to the country's state-owned defence company, Denel. On the new board is 2015 Tutu Fellow, Nonzukiso Siyotula. No members of the previous board were retained. The cleanout of Denel’s board is the second major shake up at a state-owned enterprise in South Africa in recent months. The new President, Cyril Ramaphosa, has said that cleaning up state-owned enterprises with a track record of mismanagement and ethical lapses was a priority of his to get the economy back on track.
In March, the former chairperson of Denel’s board, stepped down with the once-successful company facing a liquidity crisis. Along with the appointment of Zukie Siyotula to Denel's board, her fellow board members include: Zoli Kunene, Prof Tshilidzi Marwala, General Themba Matanzima, Gloria Serobe, Talib Sadik, Sue Rabkin, Dr Sibusiso Sibisi, Cheryl Carolus, Thami Magazi and Martin Mnisi. Monhla Hlahla will chair the board. Gordhan said that switching out the board was a first step being taken towards improving governance at the company. An accountant by training, Zukie serves on a number of company boards.
Report