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Denel CEO Zwelakhe Ntshepe resigns

His resignation comes after he was fingered in the irregular awarding of a R1 million bursary to North West Premier Supra Mahumapelo's son

Zwelakhe Ntshepe. Picture: denel.co.za

JOHANNESBURG - State-owned defence company Denel has announced its CEO Zwelakhe Ntshepe has resigned, effective immediately.

The board accepted Nsthepe's resignation and has appointed the chief executive of Denel Aeronautics Michael Kgobe as the acting group chief executive in the interim.

Denel spokesperson Vuyelwa Qinga says Ntshepe resigned citing personal reasons.

His resignation comes after he was fingered in the irregular awarding of a R1 million bursary to North West Premier Supra Mahumapelo's son in an alleged contravention of Denel's policy.