New bosses at three SOEs

Public Enterprises Minister Lynne Brown, pictured, yesterday confirmed senior appointments at three state-owned enterprises (SOEs).

A day after Finance Minister Malusi Gigaba, in his medium-term budget policy speech to parliament, warned SOEs posed the biggest risk to the economy, Brown announced appointments of executive directors at Denel, Safcol and Alexkor. Brown’s office said the appointments were approved by Cabinet on October 18.

“The executives are appointed as ex officio members of the companies’ respective boards of directors on five-year contracts,” the statement said.

“Stable leadership is critical to the implementation of short- to medium-term plans to improve SOE sustainability and their impact on the economy.”

Zwelakhe Ntshepe, who has been acting as Denel group chief executive, was permanently appointed to the position and Odwa Mhlwana was confirmed as the new group chief financial officer.

Ntshepe holds a masters degree in business administration while Mhlwana is a chartered accountant.

The SA Forestry Company has a new chief executive in Tsepo Monaheng, who has a two bachelor of science degrees and a masters in business administration. Lemogang Pitsoe was confirmed as the new chief executive of Alexkor. Adila Chowan is its new chief financial officer.

Pitsoe hold a masters in business leadership and a B-Tech in mining engineering.

Chowan is a chartered accountant. – ANA