Transnet to sack its CEO

The Transnet board has given group chief executive (GCEO) Siyabonga Gama 10 days to submit reasons why he should not be fired, board chairperson Popo Molefe said yesterday.

“The board of Transnet has today served Mr Siyabonga Gama with a letter informing him of the board’s intention to terminate his employment as group chief executive officer (GCEO) of Transnet SOC Ltd,” Molefe said.

The reasons supplied to Gama were alleged serious violations of his financial, procurement and fiduciary duties.

“As a result, the board has lost trust and confidence in Mr Gama’s ability to lead Transnet as GCEO,” Molefe said.

He added that Gama has been given 10 days “to make written representations as to why his appointment as GCEO should not be terminated”.

Two law firms, Werksmans and MNS, have implicated Gama in alleged breaches of procurement rules on a controversial R54 billion contract to buy new locomotives.

Gama said the investigations into the deal were incomplete, and preliminary findings based on an uncertain grasp of Transnet rules.

He has accused Molefe of unfairly targeting him and had written to Public Enterprises Minister Pravin Gordhan, asking him to intervene for the sake of the sustainability of the rail freight company.

Molefe yesterday said Gordhan has been informed of the board’s decision. – ANA