Finance Minister Malusi Gigaba continues to insist the extension of South African Airways chairwoman Dudu Myeni’s contract is legal‚ despite views to the contrary by the Companies and Intellectual Property Commission (CIPC) and concerns raised by Parliament’s finance committee.
Myeni’s contract was extended at the end of August until the airline’s annual general meeting‚ scheduled for the first week of November.
The minister has sent a letter to finance committee chairman Yunus Carrim outlining his view that the extension is legal in terms of the SAA memorandum of incorporation‚ which he believes is in line with the Companies Act.
The minister argued that‚ contrary to the view of the CIPC‚ Myeni had not yet served three full terms of office.
The CIPC has argued that she has served three terms and therefore the extension of her contract was illegal in terms of both the Companies Act and the memorandum of incorporation.
Carrim said Gigaba’s letter had been referred to Parliament’s lawyer and would be discussed by the committee at its meeting on October 5.
- BusinessLIVE
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