Denel CEO Danie du Toit will step down next month

📆 7/20/2020 4:49 PM
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Denel — one of several loss-making state companies the government has kept afloat with bailout funding — has struggled to pay employee salaries amid a liquidity crisis aggravated by the COVID-19 pandemic.

Danie du Toit, the chief executive of South Africa’s struggling state-owned defence firm Denel, will step down from August 15, the company said in a statement on Monday.

The company did not say why du Toit was resigning, but it said an interim CEO would be appointed shortly. -Reuters

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