Cabinet yesterday, 16 February 2011, approved Brian Molefe as the new group chief executive for Transnet.
The announcement was made at a press conference by Public Enterprises Minister Malusi Gigaba.
Molefe's appointment, which is for a period of five years, starts with immediate effect.
"Transnet has been without a permanent group chief executive for a considerable period of time, which is undesirable given its strategic importance to the South African economy. Molefe's appointment strengthens the stability of the leadership of Transnet," said Gigaba.
He said that it also "allows the company's primary focus to return to that of running a sustainable business, which provides economic benefit to the country."
This, Gigaba said, allowed SA to meet its objective of a developmental state, in particular, the plans to expand capacity in the rail, ports and pipelines infrastructure and meet the demands of the growing economy.
"The filling of critical vacancies within the group remains a priority for the incoming CEO. This supports President Jacob Zuma's directive for a government and state-owned entities to fill vacant posts with a period of six months," said the minister.
Gigaba said that following the appointment of the board of directors in December last year, and now the chief executive, the goal of restoring leadership stability to Transnet had been realised.
