Transnet CEO fired, but the battle is not over
Gama has been in the line of fire after investigations found that he, former CEO Brian Molefe and Gupta associates may have acted unlawfully in relation to the purchase of 1,064 locomotives for R54bn
Transnet has fired its embattled CEO Siyabonga Gama and will pay him out for six months. In the notice of termination of employment letter, served on Gama on Sunday and seen by Business Day, board chair Popo Molefe said the CEO had failed to make representations on why he should not be fired by the deadline of October 15. "As a result of your failure to make representations, the board has therefore resolved to terminate your appointment as group CE on six months’ notice," Molefe says in the letter. "You are not required to work out your notice period and will be paid six months’ remuneration in lieu of notice." Gama was paid R8.108m in the 2018 financial year, according to the latest Transnet annual report. Gama has been in the line of fire after investigations found that he, former CEO Brian Molefe and Gupta associates may have acted unlawfully in relation to the purchase of 1,064 locomotives for R54bn. Leaked Gupta e-mails contain claims that the Gupta family received multibillion...
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