Transnet board issues notice of termination to CEO Siyabonga Gama
The board says it's lost trust in Gama after allegations of serious violations of his financial, procurement and fiduciary responsibilities.
Transnet’s board chairperson Popo Molefe says the reasons given to Gama as to why he should be fired as group CEO include allegations of serious violations of his financial, procurement and fiduciary responsibilities.
In a statement, Molefe says that as a result, the board had lost trust and confidence in Gama’s ability to lead Transnet.
It's notified Public Enterprises Minister Pravin Gordhan of its decision and Gama has been given 10 days to explain in writing why he should not be fired.
Gama’s job has been on the line for some time. Three different inquiries have reported alleged impropriety and unlawful conduct on the part of top executives, including multi-billion rand deals for locomotives.
Last month, the board served Gama and two other senior employees with notices of intention to suspend them.
Gama was opposing this.
(Edited by Thapelo Lekabe)