How CEO Siyabonga Gama wound up in Transnet's departure lounge
The new board has told Gama and two other senior officials it plans to suspend them
Transnet moved to suspend CEO Siyabonga Gama and two other senior officials, accelerating the cleanup at the state-owned enterprise (SOE) after the appointment of a new board in May. On Wednesday, Gama, chief procurement officer Thamsanqa Jiyane and supply chain manager Lindiwe Mdletshe were served by the board with notices of intention to suspend them. Business Day understands that the decision to serve them with a suspension notice was taken by the board based on legal advice. The three have been given until Monday to provide reasons to the board on why they should not be suspended. It remains to be seen whether the board will allow Gama to present Transnet’s results early next week. Transnet, which has been mired in allegations of state capture, is the biggest freight company in SA and has a monopoly or near-monopoly over ports, freight rail and fuel pipelines. Gama has been in the line of fire after investigations found that he, former CEO Brian Molefe and Gupta associates may h...
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