Major shake-up of SAA board on the cards‚ sources say
A major board shake-up is on the cards at embattled national carrier SAA‚ with speculation rife that the axe may fall on several key members‚ sources said on Wednesday.
The sweeping changes are set to be announced in Thursday's post-Cabinet meeting statement‚ after the executive resolved to rubberstamp the changes spearheaded by Finance Minister Malusi Gigaba.
Sources said a total six SAA board members would get the chop and would be replaced by big names in business and industry‚ among whom are well-known dealmakers.
A consortium of lenders owed billions by SAA has been breathing down the airline's neck‚ demanding that chairwoman Dudu Myeni go. Will they get their wish on Thursday morning? Myeni is widely seen as the source of both board and management instability at the national carrier.
Her term is supposed to have ended at the beginning of September after Gigaba extended her contract. The move has seen the minister embroiled in a potential legal bind with the Companies and Intellectual Property Commission‚ which has written to the minister informing him that the regulator deemed the extension unlawful.