Transnet Board Of Directors Strategy Session Update

The Transnet Board of Directors and its top management held a board strategy workshop in Limpopo recently, where a new strategy - which will take the company forward - was crafted.

The central theme and thrust of the strategy workshop was to review the deteriorating financial and operational performance of Transnet. The Board also agreed on key strategic interventions to arrest the decline and craft a new growth trajectory.

The board of directors wishes to share with the South African public the key decisions flowing from the workshop to urgently reorganise and rationalise Transnet’s operating model and corporate structure adopted by both the board and executive management.

  • The first resolution is on the principles for the corporate design of a new operating model underpinned by financial sustainability, customer centricity and operational excellence.
  • The second resolution is to sub-delegate and mandate the Acting Group Chief Executive, Mr Tau Morwe to develop a revised operating model, corporate structure and new Group Executive including its supporting implementation strategy for submission to the Board by latest end of February 2019.
  • The third resolution was the dissolution of the current Group Leadership Team (GLT) and its replacement by an interim group executive team - until the new Executive Committee is established in terms of the new operating model and corporate structure.

The Board is confident that the new strategy will assist in positioning Transnet in a trajectory that will contribute to a growing economy. This will stimulate economic growth and achieve economic efficiency in the movement of goods across the country.

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