succession
2 March 2009
We wish to announce that the Board of Transnet Limited in consultation with
Ms Bridgette Mabandla, the Minister of Public Enterprises in her capacity as
representative of Transnet's only shareholder, the Government of South Africa
has appointed Mr Chris Wells acting Group Chief Executive of Transnet pending
the finalisation of the process of appointing a permanent group chief
executive. We will make an announcement in due course once this process is
concluded.
A CA by training and an experienced director of publicly-quoted companies, Mr
Wells is currently the Chief Financial Officer (CFO) and one of two executive
directors on the Board of Transnet.
Having joined the company in January 2005, Mr Wells, who is widely respected
in and outside the company, has been a member of the executive team which
successfully implemented the turnaround strategy at Transnet. Most members of
this team, who have worked together during the last five years, are still in
their positions, ensuring that the impending change in Chief Executive Officer
is underpinned by leadership continuity which is fundamentally important in
implementing the company's four-point growth strategy.
A structured CEO selection process which forms part of the board's
succession plan is well underway. This is being driven by the boardâs corporate
governance and nominations committee.
Enquiries:
Cell: 083 676 1881
Cell: 083 277 4774
E-mail: John.dludlu@transnet.net
Issued by: Department of Public Enterprises
2 March 2009
Source: Department of Public Enterprises (http://www.dpe.gov.za/)
