Dudu Myeni's stay at SAA illegal - CIPC tells Gigaba
The Companies and Intellectual Property Commission tells the finance minister Myeni has served three consecutive terms and is ineligible for any further extensions
South African Airways (SAA) chairperson Dudu Myeni’s stay at the helm of the airline’s board is illegal. She has served three consecutive terms as a non-executive director at SAA, making her ineligible for any further extensions to be on the board. The Companies and Intellectual Property Commission (CIPC) has written to Finance Minister Malusi Gigaba, informing him about the illegality of Myeni’s contract extension both in terms of SAA’s memorandum of incorporation (MOI) and the Companies Act, which governs the appointments of directors. The CIPC sent the letter to Gigaba on Thursday, in which it informed the minister that no notice had been filed with the regulator, telling it that Myeni’s contract had been extended. SAA had 10 business days within which to file notice of Myeni’s extension with the CIPC, which enforces the Companies Act. The national carrier has yet to file the notice. Former finance minister Pravin Gordhan re-appointed Myeni to the SAA board as chairperson for one...
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