EXCLUSIVE: Dudu Myeni’s stay at SAA may be illegal
The airline failed to file notice that its chairwoman is still on board after her contract expired
South African Airways (SAA) chairwoman Dudu Myeni’s continued stay at the airline may be technically unlawful in terms of the carrier’s memorandum of incorporation and the Companies Act. Myeni’s one-year term at the helm of the airline’s board came to an end at the start of September. However, Finance Minister Malusi Gigaba has asked her to remain on board until SAA holds its annual general meeting. Business Day understands SAA has not filed notice with the Companies and Intellectual Property Commission that Myeni’s stay at the airline had been extended. Such notice is required within 10 business days after a director’s term ends. The commission enforces the Companies Act, in terms of which directors are appointed.In addition, SAA’s memorandum of incorporation compels the shareholding minister, in this instance Gigaba, to consult with the Cabinet when it comes to matters concerning the board. Mayihlome Tshwete, Gigaba’s spokesman, said on Monday the minister "will consult with Cabin...
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