Denel board gets three new members

Johannesburg – Minister of Public Enterprises Pravin Gordhan has confirmed the approval of a new board for state-owned arms manufacturer Denel, which includes three brand new appointments.

Gordhan was announcing new board appointments for state-owned enterprises.

Monhla Hlahla, who was interim chairperson, will continue as chair of Denel. She has served as Airports Company South Africa (ACSA) Chief Executive, and was non-executive director at Exxaro Resources. Hlahla is currently also chairperson of Royal Bafokeng Holdings and General Electric South Africa's Londvolota Trust.

The new appointments at Denel included the Gauteng Department of Health's CFO, Kabelo Lehloenya. Lehloenya is a qualified chartered accountant, and was Group CFO at JSE-listed South Oceans Holdings Ltd [JSE: SOH].

General Siphiwe Nyanda's has a background in defence, having served as Chief of Defence Force Staff, General Officer Commanding (Gauteng). He was a Parliamentary Counsellor in the Presidency and is a former Minister of Communications.

The third new addition, Dr Hannelie Nel, is Managing Director of Tennelli Industries. She has recently been nominated for the Professor Kris Adendorff Award for Most Prominent Industrial Engineering Professional in South Africa. Nel was previously a Senior Engineering Consultant and Project Manager at British International Engineering.

Also on the board is Nonzukiso Zukie Siyotula, a qualified CA who has served as the CEO of Thebe Capital (of Thebe Investment Corporation) from 2014 to 2016. She is an independent non-executive director at Growthpoint Properties and has held that position since January 2018.

Mandla Mnisi, director at Mncedisi Ndlovu & Sedumedi Incorporated (MNS), has remained on the board. So has CEO and founder of Kunene Brothers Holdings, Nhlanla Kunene, who was chair of Saab Grintek. From 1980 to 1984, he served as legal unit co-ordinator for the Council of Unions of SA (CUSA), the forerunner of COSATU. Kunene is also former President of the Defence Industries Interest Group of South Africa (DIIGSA).

Prof Tshilidzi Marwala is currently the Vice Chancellor and Principal at University of Johannesburg.

General Temba Templeton Matanzima is a retired South African army officer. Matanzima was appointed by the President of the Republic of South Africa as the first South African Military Ombudsman in 2012.

Serving on various boards including Sasfin, Hans Merensky, Sasol Mining and Adcorp, Dr Gloria Serobe will now also make an appearance on the Denel board. Dr Serobe is executive director of Women's Investment Portfolio Holdings Limited (WIPHOLD).

Talib Sadik is a CA(SA) who served as GCEO of Denel between 2008 and 2012.

Susan Rabkin has served as special advisor to former minister of defence Mosiuoa Lekota.

Head of School and Director at Wits Business School Dr Sibusiso Sibisi also forms part of the Denel board. Dr Sibisi served as President and CEO of the Council of Scientific and Industrial Research (CSIR).

Finally, Thamsanqa Magazi who has been Acting Chief of Medium Business at Business Connexion Group Limited since 2016.

SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.

ZAR/USD
16.99
(+0.99)
ZAR/GBP
21.38
(+0.64)
ZAR/EUR
19.25
(+0.47)
ZAR/AUD
11.84
(+0.62)
ZAR/JPY
0.16
(+0.90)
Gold
1811.28
(+0.96)
Silver
18.62
(+2.10)
Platinum
840.49
(+0.49)
Brent Crude
42.97
(-0.05)
Palladium
1938.00
(+1.39)
All Share
55805.32
(+1.02)
Top 40
51486.14
(+1.11)
Financial 15
10304.61
(+2.16)
Industrial 25
77497.82
(+0.84)
Resource 10
52539.69
(+1.00)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 1771 votes
I am taking a hit, but should be able to recover in the next year
23% - 2329 votes
My finances have been devastated
35% - 3481 votes
It's still too early to know what the full effect will be
25% - 2498 votes
Vote