Public Enterprises Minister Pravin Gordhan has announced Michelle Phillips as the new group chief executive officer of Transnet, saying she has turned around the freight logistics company over the last few months.
Phillips has been acting Transnet CEO since the resignation of Portia Derby late last year.
Transnet has been affected by poor performance over the last few years.
But Gordhan said Phillips has improved the performance of Transnet since taking over as acting CEO.
Phillips has been commended for saving Transnet billions in 18 months.
Gordhan also announced Nosipho Maphumulo as Chief Financial Officer.
Maphumulo takes over the position after Nonkululeko Dlamini, who joined Telkom as chief financial officer in December.
Dlamini had resigned at the time when Derby quit as Transnet CEO in September. Siza Mzimela had also resigned as CEO of Transnet Freight Rail.
Gordhan said on Wednesday the appointment of Phillips and Maphumulo were critical to improve the performance of the company.
“These are critical appointments which represent our steadfast commitment as government to equip Transnet with a competent and experienced executive leadership team to drive the strategic interventions that the board has put in place as part of the Transnet recovery plan,” said Gordhan.
“Ms Phillips is currently acting as the Group Chief Executive of Transnet, and there has been improvements in the performance of ports and rails while she was acting. Se leads the entire business operations and the leadership team.
“Phillips is well regarded by the market as a problem solver with good networks. She has a track record of being a team player and collaborator to achieve business objectives.”
Phillips has been part of Transnet over the last two decades and has occupied various positions in the company.
Transnet has been one of the state-owned entities that have led to poor economic growth.
Last year National Treasury gave it a bailout of R47 billion to continue with its recovery plan.
Government has said they were trying to restore major rail networks and reduce the backlogs in the ports.
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