WELLS ACTING TRANSNET CEO
Posted on 05 March 2009
From a statement issued on 2 March:
The Board of Transnet Limited – in consultation with Ms Bridgette Mabandla, the minister of public enterprises in her capacity as representative of Transnet’s only shareholder, the government of South Africa – has appointed Chris Wells acting group chief executive of Transnet pending the finalisation of the process of appointing a permanent incumbent.
A CA by training and an experienced director of publicly-quoted companies, Wells – who joined the company in January 2005 – is currently chief financial officer (CFO) and one of two executive directors on the board of Transnet. “Widely respected in and outside the company, he has been a member of the executive team which successfully implemented the turnaround strategy at Transnet. Most members of this team, who have worked together during the last five years, are still in their positions, ensuring that the impending change in CEO is underpinned by leadership continuity which is fundamentally important in implementing the company’s four-point growth strategy.
“A structured CEO selection process – which forms part of the Board’s succession plan – is currently in progress, driven by the board’s corporate governance and nominations committee.”
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