Leadership Stability at SAA Strengthened with New Appointments

The Board of South African Airways (SAA) is pleased to announce the appointment of Ms Zuks Ramasia as the Acting Chief Executive Officer for SAA as of Monday, 10 June 2019.

The Board has commenced a search, domestically and globally, for a permanent CEO with appropriate experience and expertise to stabilise the company and to oversee the implementation of the long-term turnaround strategy.

As a consequence of the change in leadership, Mr Vuyani Jarana will no longer serve as CEO, but will avail himself to provide transitional support to the Board and Management, when required, for the duration of his notice period.

Ramasia, who is currently General Manager for Operations, is an experienced executive with extensive aviation background. Ramasia will be supported by experienced executive committee members including Mr Peter Davies, the Chief Restructuring Officer, and Mr Deon Fredericks, the Chief Financial Officer.

"With the support of the shareholder, the Board and executive management of SAA are fully committed to the turnaround strategy,” said SAA Board Chairman JB Magwaza. “In that regard we are working closely with the shareholder to optimise the aviation assets of the state.”

The Board is also taking steps to strengthen the executive capacity of the group.

"We have appointed Adam Voss as the new CEO of South African Airways Technical (SAAT) and we are finalising the appointment of a permanent CEO for Mango. We are close to concluding other senior appointments and will make further announcements in due course," said Magwaza.

The Board acknowledges the critical financial circumstances confronting the company and is  in ongoing discussions with the Department of Public Enterprises, National Treasury, and financial institutions with respect to  putting in place a financial structure appropriate to supporting the long-term sustainability of the company. The Board and executive management met this morning with the labour unions to provide assurances that the turnaround strategy remains on track and will continue to involve all key stakeholders in rolling out the implementation of the strategy.

"In conclusion, the Board is committed to transparency and engaging with all stakeholders regarding stabilising SAA and the implementation of the long-term strategy.  We will be providing regular updates on progress." said Magwaza.