BREAKING: CEO of Transnet Siyabonga Gama fired

Image Credits: Simphiwe Mbokazi

Siyabonga Gama, CEO of Transnet was notified of the state owned entity’s intention to fire him on Sunday, reports Business Live.

Transnet gave Gama 10 days to give the entity reasons as to why his contract shouldn’t be terminated after allegations of misconduct and maladministration in the acquisition of locomotives worth R54bn from General Electric, Bombardier Transport, China South Rail and China North Rail in 2012.

Early last week, the now former Transnet CEO approached the labour court to stop the board from terminating his contract, however, the court stayed Gama’s application and ordered that the dispute with Transnet be referred to arbitration.

The stay of application by the court effectively postpones any ruling on Gama’s application pending the outcome of the arbitration.

Siyabonga Gama served as the CEO of Transnet since April 2016.

[Source: Business Live]

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