PROFILE: New Denel CEO Danie du Toit’s turnaround plans
Denel’s new boss outlines the problems facing the state-owned arms manufacturer and how he plans to fix them
One thing Danie du Toit has an appetite for is a daunting challenge. This is what he faces as he takes up the position of Denel group CEO: rescuing the state-owned arms manufacturer that has been battling over the past year to generate sufficient cash to stay afloat. Asked what made him take on the challenge, he says: "It’s an enormous opportunity to make a difference to the country." Du Toit, 52, has had a long career in the defence industry, mostly with Swedish aerospace and defence group Saab. Being a white man, his appointment came as something of a surprise — it was justified by the Denel board on the grounds that he was the best candidate. Since taking over the job in mid-January, the former MD of Saab Medav Technologies in Germany has been analysing the business, having strategic meetings with management teams in the various divisions and meeting staff. His most immediate challenge is to get cash. Denel’s severe liquidity crunch has made it difficult to pay suppliers and empl...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.