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New Appointments To Strengthen Stability At SAA

South African Airways (SAA) has appointed Zuks Ramasia as Acting Chief Executive Officer effective from Monday, 10 June 2019.

This comes after former CEO Vuyani Jarana tendered his resignation last week. According to SAA Jarana will avail himself to provide transitional support to the Board and Management, when required, for the duration of his notice period.

The Board has started the search, both domestically and globally, for a permanent CEO. The CEO will be tasked with stabilising the company and overseeing the implementation of the long-term turnaround strategy.

An Experienced Team

Ramasia, who is currently General Manager for Operations, has an extensive aviation background. She will be supported by experienced executive committee members including Peter Davies, the Chief Restructuring Officer, and Deon Fredericks, the Chief Financial Officer.

“With the support of the shareholder, the Board and executive management of SAA are fully committed to the turnaround strategy,” explains SAA Board Chairman JB Magwaza.

“In that regard we are working closely with the shareholder to optimise the aviation assets of the state.”

Strengthening Executive Capacity

The Board is also taking steps to strengthen the executive capacity of the group.

“We have appointed Adam Voss as the new CEO of South African Airways Technical (SAAT) and we are finalising the appointment of a permanent CEO for Mango. We are close to concluding other senior appointments and will make further announcements in due course,” says Magwaza.

Acknowledging the critical financial circumstances confronting the company Magwaza says the Board is in ongoing discussions with the Department of Public Enterprises, National Treasury, and financial institutions with respect to putting an appropriate financial structure in place.

The Board and executive management met on Friday morning with the labour unions to provide assurances that the turnaround strategy remains on track and will continue to involve all key stakeholders in rolling out the implementation of the strategy.

 

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