'No plan for Group Five to unbundle'
Group Five CEO Themba Mosai has a big task ahead of him that includes defining a strategy that will return the business to profitability
With a new board and the start of a restructuring plan, Group Five CEO Themba Mosai has a big task ahead of him that includes defining a strategy that will return the business to profitability. Although the company still has some right-sizing to do and has implemented a plan to split the group into four divisions - construction; investment and concessions; manufacturing; and engineer, procure and construct - it was still unclear what the group's long-term strategy was. Mosai admitted on Friday there was still no strategy due to more pressing issues around changes to management and the board and the restructuring of the group. But he did say the new structure was not in preparation for the company to eventually unbundle assets. "We are not at all talking about unbundling. What we are doing now is talking efficiency of execution and so the pockets that we created allow us to drive business better with the right skills - it's not preparing us for an unbundling, not at all," Mosai said....
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