DENEL interim board appointed
Public Enterprises Minister, Pravin Gordhan has appointed a new interim board at Denel with fears that the entity faces the threat of collapse.
In a statement, the minister sites the Denel Asia 'saga' as a contributing factor towards the collapse of the entity.
"The Denel Asia saga in 2016 deeply tarnished the Denel brand. The insistence by the previous board to proceed with the venture, despite evidence showing it was a bad strategic move. Denel now faces the real threat of collapse unless far-reaching decisions are taken urgently," says Gordhan.
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Gordhan says the new board will need to move hastily.
"The new interim board will be required to move with speed on some of the areas that need urgent attention,'' adds Gordhan.
The New Board of Directors are as follows:
