Transnet ends contract with acting CEO

Transnet has said it will not renew the six-month contract of acting chief executive officer (CEO) Tau Morwe, and will appoint a new acting CEO instead.

According to a statement from Transnet, issued late on Wednesday evening, Morwe’s contract comes to end on May 3 2019. Transnet did not say why Morwe’s contract was not renewed or extended.

“The board acknowledges the good work done by Mr. Morwe in pursuit of the reorganisation and operational efficiencies at Transnet and wishes to express its appreciation.

“To this extent the board commits to continuing with the programme and plans started by Mr. Morwe,” board chairperson Popo Molefe said in the statement.

Transnet has appointed Mohammed Mahomedy as acting group chief executive. For the past 12 months, Mahomedy served as the acting chief financial officer.

“The stability of the organisation remains a key focus of the board and this appointment was made with this in mind, giving consideration to Mahomedy’s experience at Transnet over a period of more than 12 years,” Molefe said.

He also assured that Transnet is working to fill critical vacancies at the organisation such as that of group chief executive, and chief financial officer.

“Transnet urges its management and employees to build organisational cohesion and common focus on the central mandate of the company, which is to move goods and lower the cost of doing business in South Africa.”

Transnet recently announced the resignation of an executive, Ravi Nair, following his suspension in March. Nair was one of four executives suspended, as their presence in the workplace had the potential to jeopardise investigations into their alleged misconduct, Transnet said at the time. — Fin24

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Lameez Omarjee
Lameez Omarjee
Parliamentary reporter at Fin24.com
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