Transnet SOC Ltd. Chief Executive Officer Portia Derby will step down at the end of October, while Chief Financial Officer Nonkululeko Dlamini will leave a month earlier, the company said in a statement on Friday.
Volumes of iron ore and coal shipped through Transnet’s freight rail network for export have dropped because of issues including vandalism, idle locomotives and cable theft. Miners and labour unions have called for a turnaround at the company as the slowdown of shipments limits profits and threatens jobs.
Dlamini has been appointed CFO of Telkom SA SOC Ltd, the company said in a separate statement on Friday.
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