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...


Recommended

by NEWSROOM AI
Read More
[LISTEN] EC House of Traditional Leaders 'outraged' at deaths of initiates

[LISTEN] EC House of Traditional Leaders 'outraged' at deaths of initiates

Three deaths were reported last week.

[LISTEN] #Sona2019: 'A lot of dreams and not many concrete steps'

[LISTEN] #Sona2019: 'A lot of dreams and not many concrete steps'

DA Chief Whip John Steenhuisen and other opposition parties react to President Cyril Ramaphosa's State of the Nation Address.

Court dismisses former Transnet director's bid to challenge his dismissal

Court dismisses former Transnet director's bid to challenge his dismissal

Seth Radebe was removed from his position in May this year.

Dr Popo Molefe: What is going on at Transnet gives me sleepless nights

Dr Popo Molefe: What is going on at Transnet gives me sleepless nights

Chairperson of Transnet Dr Popo Molefe says they are working on cleaning up Transnet and how it does business.

[LISTEN] Transnet CEO expected to file reasons why he should not be suspended

[LISTEN] Transnet CEO expected to file reasons why he should not be suspended

CEO Siyabonga Gama, CPO Thamsanqa Jiyane and supply chain manager Lindiwe Mdletshe were served with notices on Wednesday.

Transnet CEO Siyabonga Gama served with suspension notice

Transnet CEO Siyabonga Gama served with suspension notice

The Money Show’s Bruce Whitfield interviews Pieter du Toit, the assistant editor at News24.

Popular articles
How to buy a new car even if you don’t really have enough money for it

How to buy a new car even if you don’t really have enough money for it

South Africans are increasingly buying cars they can’t afford using balloon payments, says consumer journalist Wendy Knowler.

The rand isn't weak. It's the dollar that's strong. But it won't stay that way

The rand isn't weak. It's the dollar that's strong. But it won't stay that way

The rand is trading at fair value. It’s the US dollar that's overvalued. Bruce Whitfield interviews George Glynos (ETM Analytics).

[2018] Jesse Clegg (son of Johnny) opens up about money and growing up on tour

[2018] Jesse Clegg (son of Johnny) opens up about money and growing up on tour

[From the archives] Jesse Clegg talks about his famous father and attitude to money (hopes and fears, successes and failures...).

Johnny Clegg was a gift from God - Sipho Mchunu

Johnny Clegg was a gift from God - Sipho Mchunu

Juluka co-founder pays tribute to the music legend, along with Yvonne Chaka Chaka and veteran broadcaster Bhodloza Nzimande.

Zimbabwe running out of bread as inflation tops 175%

Zimbabwe running out of bread as inflation tops 175%

Hyperinflation – and the destruction it reaps – is returning to Zimbabwe. Bruce Whitfield interviews CNBC Africa’s Chris Bishop.

Investigators find serious corruption at EOH

Investigators find serious corruption at EOH

A probe found "suspicious transactions" worth R1.2bn, bribery and theft. Bruce Whitfield interviews EOH CEO Stephen Van Coller.

'Calculated move by media to undermine Public Protector, I don't accept apology'

'Calculated move by media to undermine Public Protector, I don't accept apology'

Former Sars employee Bizoski Manyike responds to the Sunday Times article that called him a 'dope-smoking Rastafarian'.

'I should have told the Sunday Times the pot smoking was irrelevant'

'I should have told the Sunday Times the pot smoking was irrelevant'

Investigative journalist Jacques Pauw says he's sorry for any harm caused in his article on Mkhwebane and her principal witness.

[WATCH] Over 50 artists record special version of Johnny Clegg’s  “The Crossing”

[WATCH] Over 50 artists record special version of Johnny Clegg’s “The Crossing”

For this week's #GoodNewsThursdays, we find out the inspiration behind the production.