SAA’s Myeni heading for departure lounge
Board reshuffle spearheaded by Gigaba on the way as lenders demand chairwoman Dudu Myeni must go
A boardroom shake-up was on the cards at embattled national carrier SAA, with speculation rife that the axe might fall on chairwoman Dudu Myeni and her deputy Tryphosa Ramano, sources said on Wednesday. A consortium of lenders owed billions by SAA has been breathing down the airline’s neck, demanding that Myeni go, while also insisting that the composition of the board remain the same as a precondition to roll over their debt. But sweeping changes are set to be announced in Thursday’s post-cabinet meeting statement, after the executive had resolved to approve the board reshuffle spearheaded by Finance Minister Malusi Gigaba, said the sources, who asked not to be named. The changes would be effected at a special board meeting scheduled for the first week of November, when SAA is supposed to hold its annual general meeting (AGM). The carrier has not submitted its 2016-17 annual financial statements, in the absence of which it cannot hold an AGM. The expected move on the board was seen...
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