Media statement by the Acting DG, Department of Public Enterprises, Ms Makgola Makololo
The Transnet board today informed the Minister of Public Enterprises that Mr Garry Pita, the Transnet CFO and executive director, had resigned. His resignation was duly accepted by Transnet board. The Minister has welcomed his resignation.
Transnet has been faced by a series of allegations of deep corruption and malfeasance with highly suspicious and questionable financial transactions to the detriment of Transnet and its reputation.
The current board is yet to provide credible explanations of how such transactions were approved or indeed condoned over successive financial years. It also needs to explain how it had exercised its fiduciary duties in the context of a plethora of information in the public domain showing how Transnet became a target of state capture.
Therefore, the resignation of Mr Pita does not absolve him of accountability should he be found to have had a role in any way or form.
