Denel group CEO Danie du Toit has resigned, the state-owned enterprise confirmed on Monday afternoon.
In a statement, Denel said Du Toit would remain in his position until August 15. Reasons for the resignation were not provided.The under-fire company's statement said that its “t urnaround plan” was under way, focused on “protecting promising business lines, disposing of noncore assets, and seeking strategic partners to increase access to international markets, contribute skills and funding to a profitable Denel”.
“The board has taken far-reaching steps to stabilise the business and prepare the ground for Denel’s long-term sustainability.”
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Denel CEO Danie du Toit will step down next monthDanie 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. 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.
Source: SowetanLIVE - 🏆 13. / 63 Read more »
Denel CEO Danie du Toit will step down next monthDanie 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. 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.
Source: SowetanLIVE - 🏆 13. / 63 Read more »