New Board of Directors appointed for SAA

On 2 September, a new SAA (South African Airways) board was selected from names submitted by finance minister, Pravin Gordhan to the cabinet. Both President Jacob Zuma and Deputy President, Cyril Ramaphosa were absent, resulting in it being chaired by Susan Shabangu, Minister of Women in the Presidency. The new board should reside for the next three years. Dudu Myeni was appointed chairperson for another year. Tryphosa Ramano, a former chief financial officer (CFO) at SAA was appointed deputy chairperson and non-executive director.

While the new board promises to strengthen SAA, there is still disquiet regarding Myeni’s reappointment. “The SAA board is reinforced with people who have a solid financial background,” said UDM MP Nqabayomzi Kwankwa, to Fin24. Brand manager and political commentator, Solly Moeng, said, “keeping her will do nothing to boost potential investor confidence. It will also bolster the views of key stakeholders against any hope that things will start improving.”

Gordhan showed confidence that the board will function effectively in the future. “There is now a much stronger balance on the board and the chair will have to work with that team,” said Gordhan. “Any notion that the chair can carry on doing things with the new board that might have been done in the past must be seen in the context of the board’s memorandum of understanding and the script that has to be followed as well as government rules.”

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