/ 18 November 2000

DENEL APPOINTS NEW TOP DOG

SOUTH African state-owned defence group Denel Ltd said this week Flip Botha had been appointed as chief executive officer with immediate effect. Botha was previously acting CEO of the group, and has overseen the restructuring of Denel, reduction of the group’s losses to R206m in the 2000 financial year from R745m in 1999 and expansion of exports beyond the one billion rand mark. Denel is one of the four parastatals earmarked for restructuring and partial privatisation by the government by 2004. – Reuters