Democratic Alliance Welcomes Resignation of Embattled Transnet CEO, Portia Derby

The Democratic Alliance (DA), the official opposition party in the South African government, has publicly commended the recent resignation of Portia Derby, the Chief Executive Officer of Transnet. The party has described this move as the crucial first stride towards "a much-needed turnaround at the beleaguered state-owned enterprise," a reference to the operational and financial struggles of the freight logistics giant.

The sentiment was echoed by DA MP Ghaleb Cachalia, who credited Derby and her administration for the "unmitigated disaster" within Transnet. "They were instrumental in the derailment of South Africa's export sector, depriving the national fiscus of critical export receipts," stated Cachalia.

Ghaleb Cachalia furthered his critique by calling for the resignation of the last-standing member from Derby's executive, Sizakele Mzimela. Mzimela heads Transnet Freight Rail (TFR). He further added, "This is the division of Transnet that has essentially collapsed under the weight of mismanagement and neglect - as such, it is completely unacceptable for Mzimela to continue to preside over TFR after such a disastrous run".

Simultaneously, Moneyweb reports stated the unexpected resignation of Transnet's Group Chief Financial Officer, Nonkululeko Dlamini, at the start of September. The news was made public on Friday via a SENS notice to the Johannesburg Stock Exchange.

As per the notice, Portia Derby is set to relinquish her position by the end of October. In related news, Michelle Phillips will take over as acting Chief Executive of Transnet Pipelines, effective from November 1, 2021. Furthermore, Hlengiwe Makhathini has been designated as the interim Group Chief Financial Officer. These leadership changes underpin Transnet's recent strides towards a change in leadership to revive the organization's fortunes.