Transnet board issues notice of termination to CEO

The Transnet board has issued a notice of termination to CEO Siyabonga Gama.

In a statement the board Chairperson, Popo Molefe said the reasons provided relate to alleged serious violations of his financial, procurement and fiduciary responsibilities.

The board says it has lost trust and confidence in Gama’s ability to lead Transnet.

READ: Transnet CEO expected to file reasons why he should not be suspended

Non-executive director at Transnet Mpho Emily Letlape explains further.

As we were looking at everything, the relationship was very strained between the board and Mr Gama.

Mpho Emily Letlape, Non-executive director at Transnet

As you are aware we came in on board and we were confronted with two reports...all of them said the same thing that there are some serious breaches of controls both in the financial and procurement area. The more we deliberated on it, we realised the relationship has really broken down. The issue of trust and confidence in Mr Gama has been eroded.

Mpho Emily Letlape, Non-executive director at Transnet

Gama has ten days to give reasons why he should not be axed.

On Tuesday, we concluded that we need to give him notice so that he can make representations to us to say why his employment should not be terminated immediately. As soon as that has been done we will deliberate on his responses and take it from there.

Mpho Emily Letlape, Non-executive director at Transnet

There is just too much that has gone on over an extended period and also over the four months that we have been in office for us to say that we can continue with this relationship.

Mpho Emily Letlape, Non-executive director at Transnet

Click on the link below to listen to hear more from Letlape...


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