Crisis deepens at Denel as chair Monhla Hlahla resigns
Company remains mum as two board members, including the chair, quit amid poor results
25 February 2021 - 20:43
SA state-owned weapons manufacturer Denel said on Thursday that two board members, including chair Monhla Hlahla, had resigned, days after it said several other board members had stepped down.
The company did not give a reason for the resignations, which deepen the crisis at Denel. The company depends on government bailouts and has faced liquidity problems. Denel’s fortunes have worsened during the Covid-19 pandemic as some of its trade unions took it to court after it failed to pay full salaries during some months last year. ..
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