State-owned freight company Transnet has appointed Tau Morwe as acting group chief executive following the axing of Siyabonga Gama. Morwe will serve from November 1 2018 to April 30 2019, Transnet announced on Monday. Gama was served with a termination of contract letter on October 21. His contract was terminated with six months notice, however his last day at the office was October 22. His axing comes 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. The embattled former CEO has approached the Labour Court in Johannesburg to overturn the decision to axe him. The court is yet to hand down judgment in the matter. In September, the board gave Gama until October 15 to give reasons why his contract should not be terminated. The board said he did not do so and took the decision to proceed with the termination. Transnet is also suing for R166m, which the utility says was an...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.